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International Monetary Fund: Trump's actions hit the US economy
The International Monetary Fund said on Sunday that the protectionist measures proposed by US President Donald Trump will also have a negative impact on the US economy.
"The import restrictions announced by the US president are likely to cause damage not only outside the United States, but also to the US economy itself, especially the manufacturing and construction sector, which are using aluminum and steel," the IMF said in a statement read by the Economist News.
The Washington-based International Monetary Fund (IMF) also fears a growing use of the pretext of national security to justify import restrictions.
"We encourage the United States and its trade partners to work together constructively to reduce trade barriers and resolve trade disputes without resorting to such emergency measures," the statement said.
Trump announced on Thursday his intention to impose 25 percent on steel imports and 10 percent for aluminum imports, angering his trading partners, especially Canada and the European Union.
"The import restrictions announced by the US president are likely to cause damage not only outside the United States, but also to the US economy itself, especially the manufacturing and construction sector, which are using aluminum and steel," the IMF said in a statement read by the Economist News.
The Washington-based International Monetary Fund (IMF) also fears a growing use of the pretext of national security to justify import restrictions.
"We encourage the United States and its trade partners to work together constructively to reduce trade barriers and resolve trade disputes without resorting to such emergency measures," the statement said.
Trump announced on Thursday his intention to impose 25 percent on steel imports and 10 percent for aluminum imports, angering his trading partners, especially Canada and the European Union.
http://economy-news.net/content.php?id=11353
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