International Monetary Fund (IMF) Managing Director Christine Lagarde visits the Borobudur temple in Magelang, Central Java, Indonesia, March 1, 2018. REUTERS/David Lawder
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International Monetary Fund Managing Director Christine Lagarde said she saw positive and negative effects from a "complicated" U.S. tax overhaul, including a near-term growth bump that risks overheating the U.S. economy and a problematic rise in debt. Lagarde told Reuters in an interview Thursday that tax cuts can lift the U.S. growth rate by about 1.2 percentage points over the three years through 2020, which should help boost global growth and trade for at least a few years.Lagarde said a bigger concern was the increase in U.S. budget deficits and debt that she said would begin to cut the growth rate starting in 2022 .Lagarde added that the WTO needs to have its appellate function fully restored.The United States has been blocking the appointment of WTO appellate judges it regards as unfavorable to U.S. interests.
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