IMF: The US trade war could cost the global economy $430 billion

REUTERS/China Daily

• The global economy could lose $430 billion — or 0.5% of GDP — by 2020 if Trump's tariffs against China continue to escalate, the International Monetary Fund warned.
• The US could be the "focus of global retaliation" and would be especially vulnerable if Trump sanctioned a fresh $200 billion in tariffs.
• The comments were in the IMF's World Economic Outlook report on Monday, which showed continuing strong global growth but greater risks.

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The global economy could lose $430 billion by 2020 if the current Sino-US trade war escalates and President Donald Trump’s new tariff threats are carried out, the International Monetary Fund has warned.

The Washington-based IMF said on Monday that the US could be the "focus of global retaliation" to Trump’s trade war and said the country is "especially vulnerable" to repercussions from an increase in tariffs.

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See Also:

• EU's Tusk calls for WTO reform to stop 'conflict and chaos' of Trump's growing trade war
• A troubling lesson from the 1930s suggests Trump's trade war will damage the world for decades
• The US now plans tariffs on more than 6,000 Chinese products worth $200 billion — here's what's included

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