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On these estimates, Lagarde announced Saturday in Buenos Aires, a two-day meeting of finance ministers and central banks of the G20 countries
In a note prepared for ministers, the G20 reported that the GDP could rise by 3.9%. . in 2018. He asserted that "because of the trade war, there is a risk of a smaller increase, even of about 430 billion in 2020. According to IMF experts, escalating trade conflicts would affect every country in the world, but the US economy would be particularly affected.
US Finance Minister Steven Mnuchin maintains in Buenos Aires that Washington's protectionist policy will not affect US economic growth in 2018. He has not ruled out the signing of a possible agreement free trade with the EU. As he pointed out, this would include the elimination of tariffs, non-tariff barriers and subsidies.
"Our goal is free and sustainable trade," said German Vice Chancellor and Finance Minister Olaf Scholz in the Argentine capital. As he stipulated, "the benefits are greater for everyone when we cooperate". In turn, the French Finance Minister Bruno Le Maire said that "the trade war is already a reality". "World trade can not be based solely on the law of the jungle, and the unilateral tariff increase is only the law of the jungle" – he said
on July 10 of this year. the US administration has raised this rate in an ongoing trade dispute by publishing a list of goods imported into China worth $ 200 billion a year, which can be covered by a 10% stake. homework. China does not want to aggravate the conflict, but it will defend its interests – the Chinese Ministry of Commerce replied
Earlier (July 6), a 25% criminal trial came into effect. duties on Chinese exports to the United States worth $ 34 billion. per year, and Chinese retaliatory tariffs of a magnitude similar to that of the Chinese Ministry of Commerce have described as the outbreak of a "trade war of the greatest magnitude of history". Trump's intention is to pay Beijing a penalty for forcing the transfer of technology from US companies in exchange for access to the Chinese market.
Washington was also involved for weeks in a trade dispute with Brussels. The dispute erupted after the imposition by the United States of import duties on steel and aluminum from the EU; they apply from June 1st. As of 22 June, retaliation rights in the United States are in force in the European Union; include goods worth 2.8 billion euros, food products (eg fruit and pork juices), steel products (chains, screws, cutlery), motor boats, yachts, motorcycles, bourbon or playing cards. Trump has also threatened to impose other rights on imported cars from Europe.
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