PakNews: IMF warns tariffs could come at 'significant economic cost'

Saturday, 22 September 2018

IMF warns tariffs could come at 'significant economic cost'

Worsening trade tensions and exchange of tariffs could cause "significant economic cost" to the global economy, an International Monetary Fund spokesman warned Thursday. The global lender is still assessing the impact of the duties imposed so far but the economic costs "will quickly add up," IMF spokesman Gerry Rice told reporters. The United States is due to impose punitive tariffs on $200 billion in Chinese goods on Monday, bringing the total to $250 billion, on top of separate duties on steel and aluminum from around the globe.