Economics
Lagarde Warns Escalating Trade Tension Risks Eroding Confidence
- IMF chief says job creators want to know rules of the road
- Risk that consumers become victims of increasing tariffs
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Escalating trade tensions between the U.S. and China risk derailing the global economy by undermining business confidence and increasing the cost of living for consumers, the International Monetary Fund’s Managing Director Christine Lagarde said.
“Trade, if it is damaged, if it is threatened, is going to affect growth,” Lagarde said on CBS’s “Face the Nation” on Sunday. “People suddenly who are in the business of investing, who are in the business of creating jobs, will lose confidence, will be concerned as to what the rules of the road will be, and they need that.”