Trade War to Put Brake on World’s Economic Growth, IMF Chief Warns

International Monetary Fund Managing Director Christine Lagarde speaks at the 13th Annual Capital Markets Summit at the U.S. Chamber of Commerce in Washington on April 2, 2019. Samira Bouaou/The Epoch Times

WASHINGTON—The current U.S.–China trade dispute could shave 0.5 percent off the global economy, International Monetary Fund (IMF) chief Christine Lagarde said on June 5.

Speaking at the American Enterprise Institute, Lagarde defined trade as a “major growth engine” for the world economy. And any brakes on trade, she said, such as tariffs and nontariff barriers, would put a brake on growth.