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Business

AFP
August 10, 2019

IMF warns increasing US tariffs could cut China growth sharply

Business

AFP
Sat, Aug 10, 2019

WASHINGTON: China´s economy already is slowing amid the trade conflict with the United States, but if Washington were to ramp up tariffs even further it could cut Chinese growth sharply, the IMF warned Friday.

The International Monetary Fund trimmed its growth forecast for China to 6.2 percent this year, assuming no new tariffs are imposed.

However, new US tariffs of 25 percent on remaining Chinese goods would cut GDP growth by 0.8 percentage points in a year.

"The near-term outlook is particularly uncertain given the trade tensions," the IMF said, once again urging a rapid resolution to the dispute.