Daily Management Review

IMF’s Managing Director Finds Trade Barriers ‘Frustration’


06/27/2018


Ten years of international trade re-structuring efforts are being undermined by the introduction of “barriers”.



The IMF stated that the timings of the U.S. imposition put on “import duties” coupled with “counter measures” of other countries are quite “frustrating”, for this should have been this should have been the time for the policymakers to work “long term issues”.
 
In an earlier warning, IMF saw a threat in the “protectionist trade policies” implemented by President Trump, capable of destabilising the trade system of the world. While, the Managing Director of IMF, Christine Lagarde thinks that the economy of the world seems to be doing “reasonably good”, while the GDP growth forecast of “3.9%” was a guide for “things go in the right direction”, although the policymakers need to turn their focus on subjects like “climate change, inequality and debt”.
 
While, speaking at a Dublin conference, Lagarde stated:
“In a way it is quite a frustrating moment because we have been through 10 years of re-architecturing, reinforcing the system ... and we currently have on a global basis growth pretty much on a par with what we had before the crisis”.
“If you start undermining international trade by putting in place barriers, quotas, non tariff barriers and bringing that level of uncertainty ... That is particularly frustrating for those of us who have worked hard to improve the system. That is why we are concerned.”
 
 
 
References:
reuters.com







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