Is Trade War Between US and China Creating Threat To World Economy? – IMF Chief Says Yes

The IMF chief Christine Lagarde has said that the tensions between the United States and China are the main threat to the Economy of the world.

The International Monetary Fund (IMF) chief Christine Lagarde on 9^th of May expressed her concern over added trade tensions between the United States and China.

The IMF chief has said that the tensions between the United States and China are the main threat to the economy of the world.

Addressing a conference in Paris, Lagarde said, recent tweets and rumours make it clear that an agreement between the US and China is less prospective.

The President of the United States Donald J. Trump on 5^th of May announced that tariffs on $200 billion in Chinese exports to US have already been imposed. The fresh tariffs are reportedly more than double (25%) from the current 10%.

Since January 22, 2018, China and the United States are engaged in a trade war involving the mutual placement of tariffs.

US President Trump had declared in his campaign to fix China’s “long-time abuse of the broken international system and unfair practices”.