Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
All NewsEconomyCurrencies / ForexCryptocurrenciesEconomic EventsPress releases

IMF's Lagarde fears 'tit-for-tat' escalation from Trump tariff move

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/09/2018 | 03:19am CEST

WASHINGTON (Reuters) - International Monetary Fund Managing Director Christine Lagarde said on Thursday that she feared a "tit-for-tat" escalation of trade retaliation over U.S. President Donald Trump's steel and aluminum tariffs that would sap business confidence and investment.

Lagarde, speaking at a Washington Post forum on women's issues, said it was not the direct economic impact from the tariffs that concerned her most, but its role as a "trigger" for retaliatory responses from trading partners worldwide.

"It is that escalation that is in and of itself dangerous for the impact that it has on all those economies, and furthermore for the impact that it has on confidence," Lagarde said, noting that trade has been an engine of growth that has fueled a stronger global recovery in recent months.

"And confidence is a super-precious good that builds over time and can be destroyed very quickly," Lagarde said. "If the perception of investors around the world is that this is uncertain, and you never know where the tariffs are going to go, how high, how low, against whom ... then you step back and you don't invest, you wait and that confidence impact could be significant."

Her comments followed Trump's announcement of 25 percent U.S. import tariffs on steel and 10 percent on aluminum. The tariffs are due to start in 15 days and initially exempt Canada and Mexico.

(Reporting by David Lawder; Editing by Sandra Maler)

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Economy & Forex"
12:51pSURGUTNEFTEGAZ : Exclusive - Russian oil firm seeks dollar alternative amid US sanctions threat-traders
RE
12:45pEXCLUSIVE - ORANGE BANK'S CEO COISNE TO RESIGN IN NEXT FEW WEEKS : sources
RE
12:42pChina's exporters could quickly ditch U.S. market, says ex-central bank head
RE
12:38pCom-Guard.com, Inc. Will Officially Start Selling Its New DataCrypt™ Bitcoin Node Device on Amazon
GL
12:32pCanada wants to see flexibility in NAFTA talks with U.S.
RE
12:28pIAEA INTERNATIONAL ATOMIC ENERGY AGENCY : Turkey Signs its Third Country Programme Framework (CPF) for 2018–2023
PU
12:28pItaly coalition urges economy minister to be looser on deficit
RE
12:26pU.S. Government Bonds Fall, as 10-Year Yield Extends Advance Above 3%
DJ
12:24pGermany to reach target of 1 million electric cars later than planned
RE
12:17pCanada speeds up timeline for stronger rail cars
RE
Latest news "Economy & Forex"
Advertisement