After she initially declared that a trade war was not likely between the US, China, and the EU, now the IMF chief is warning that a trade war would have no winners.
|IMF chief Christine Lagarde warns ‘no winners’ in trade wars|
International Monetary Fund chief Christine Lagarde cautioned the United States against putting up barriers to trade in an interview published Sunday (March 18).
“Trade wars leave no winners,” she said in the interview with Argentine daily La Nacion, responding to a question about President Donald Trump’s decision to slap tariffs on imported steel and aluminum.
She said poor countries and poor people in rich countries have benefited from the surge in global trade over the past decade, but acknowledged that some regions and industries have suffered.