The IMF report warned that the additional impact of the r

The IMF report warned that the additional impact of the r

 recent and future tariffs will cut about 0.3 percent of global GDP in the short ter

m, with half stemming from negative effects on business and market confidence.

Failure to resolve the trade differences and further escalation in other areas, such as the auto

industry, which would cover several countries, “could further dent business and financial market se

ntiment, negatively impact emerging market bond spreads and currencies, and slow investment and trade“, the research said.

Experts urged the US government to stop its protectionism and proposed options for a resolution between the two countries.

Chen Wenling, chief economist of the China Center for International Economic Exchanges, said the US needs to correct moves that have

already added pressure to global economic prospects. Otherwise, it will “pay the price” for its protectionist behavior, she said.

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