Thursday, 25 April 2019
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IMF warns US fiscal, trade policies create risks to global economy

Pedestrians walk past the International Monetary Fund headquarters' complex in Washington Sunday, May 2, 2010. A senior International Monetary Fund official says the IMF's executive board is meeting in Washington to consider how much aid to grant Athens under a massive rescue loan package. (AP Photo/Cliff Owen)

WASHINGTON: President Donald Trump’s aggressive trade policies, and expansive tax cut at a time when the US economy is growing, are creating risks that could damage the domestic and global economies, the International Monetary Fund has warned.

The tax cuts will generate a near-term boost to growth but also “will elevate the risks to the US and global economy,” and increase the size of those risks, the IMF said in its annual review of the US economy.

Meanwhile, the punitive import duties the US has imposed and threatened could harm the world economic recovery by “catalyzing a cycle of retaliatory responses” and interrupting global supply chains, the report said.

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