Observers see trade friction as solvable
The International Monetary Fund's top official is calling on countries to remain calm as relations simmer between the US and its trading partners, especially China.
A statement issued on Tuesday by IMF Managing Director Christine Lagarde came amid widespread concerns that the Trump administration is about to impose up to a $60 billion punitive tariff annually on China for its intellectual property policies and practices, as well as Trump's recent orders to impose tariffs on steel and aluminum imports in the name of national security.
"I joined others in reiterating that we should avoid the temptation of inward-looking policies and, rather, work together to reduce trade barriers and resolve trade disagreements without resorting to exceptional measures," Lagarde said in the statement issued at the end of the G20 Finance Ministers and Central Bank Governors meeting in Buenos Aires, Argentina.
