File - In this April 12, 2018, file photo, a container ship is unloaded at the Port of Oakland in Oakland, Calif. (AP Photo/Ben Margot, File)
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
The International Monetary Fund warned Tuesday that rising trade tensions between the United States and China risk undermining a global economy that the IMF believes should otherwise grow solidly this year. The IMF predicted Tuesday that the U.S. economy will grow 2.9 percent this year, up from the 2.7 percent it had forecast in January and from the 2.3 percent growth the economy achieved last year. Speaking at a news conference, Obstfeld said that the IMF had run economic simulations about the impact of a far-reaching trade war that would include across-the-board tariffs of 10 percent.The IMF issued the update to its World Economic Outlook on the eve of spring meetings in Washington this week of the 189-nation IMF, the World Bank and the Group of 20 major economies. In its base forecast, the IMF predicted that trade would grow 5.1 percent this year, which would be the fastest pace since 2011 .
FOLLOW THIS ARTICLE