IMF says U.S.-China tariff rollbacks could improve growth outlook

WASHINGTON (Reuters) - An interim U.S.-China trade deal that rolls back some tariffs has the potential to improve the International Monetary Fund's baseline economic forecasts, which show the two countries' trade war slowing global growth significantly this year, an IMF spokesman said on Thursday. Gerry Rice, the IMF's chief spokesman, told a regular news briefing that the fund welcomes any development that reduces trade tensions between the world's two largest economies and rolls back tariffs, particularly if it's part of a durable agreement. 'We see it has holding potential to improve our baseline forecast,' Rice said of an agreement to roll back tariffs

Reuters November 08, 2019 02:07:40 IST
IMF says U.S.-China tariff rollbacks could improve growth outlook

IMF says USChina tariff rollbacks could improve growth outlook

WASHINGTON (Reuters) - An interim U.S.-China trade deal that rolls back some tariffs has the potential to improve the International Monetary Fund's baseline economic forecasts, which show the two countries' trade war slowing global growth significantly this year, an IMF spokesman said on Thursday.

Gerry Rice, the IMF's chief spokesman, told a regular news briefing that the fund welcomes any development that reduces trade tensions between the world's two largest economies and rolls back tariffs, particularly if it's part of a durable agreement.

"We see it has holding potential to improve our baseline forecast," Rice said of an agreement to roll back tariffs. "But again we need to wait for the details."

China's commerce ministry said the countries have agreed to cancel tariffs in phases.

(Reporting by David Lawder; Editing by Chizu Nomiyama)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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