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Trump's trade war with China and Europe will hit global growth – IMF

2018-10-09 09:45:25       source:The Guardian

October 9, 2018

Donald Trump’s trade war with China and Europe is forecast to hit global growth this year and reverberate through 2019, the International Monetary Fund has warned in its latest health check on the global economy.

The escalation of the US president’s protectionist policies, which has resulted in the world’s largest economy doubling import duties on some Chinese goods, has dragged down the forecast for growth this year and next, with the world’s largest trading countries, including the US, France, Germany and China, among the hardest hit.

Britain is also expected to suffer slower growth against a backdrop of trade conflicts, though Brexit uncertainty continues to inflict the most harm to the UK’s outlook for expansion this year and next, IMF officials said.

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