• search
For Quick Alerts
For Daily Alerts

IMF: Trump tariffs would damage US, global economies


Washington, March 2: The International Monetary Fund warned today that the steel and aluminium tariffs announced by President Donald Trump will harm the US and global economies.

International Monetary Fund

"The import restrictions announced by the US President are likely to cause damage not only outside the US, but also to the US economy itself," IMF spokesman Gerry Rice said in a statement.

He said the move raises fears other countries could use national security rationale "to justify broad-based import restrictions," and urged countries to work to resolve trade disagreements without such extremes.

US President Donald Trump has said he would impose a 25 per cent import tariff on steel and 10 per cent on aluminium. An executive order in this regard would be signed next week, Trump said after a meeting with executives of steel and aluminium companies on Thursday.

"It'll be for a long period of time...And you'll have protection for a long time in a while. You'll have to regrow your industries, that's all I'm asking," Trump said in the presence of a pool of reporters. Trump said the import tariff hike would create jobs in the US and benefit its industries.


For Daily Alerts
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more