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.
PM pays tribute to COAS Gen Asim Munir for his full cooperation to curb menace of smuggling
Tim Cook's tech company may lose its charm in East Asian country
Tech giant fires 28 employees for standing against genocide
Bitcoin halving is set to take place this week
US tech giant is considering to build regional hub in Southeast Asian city-state
Donald Lu reaffirms US's commitment to bolster ties with Pakistan