Trade

IMF Chief Says Trade Divide Could Cost Global Economy $1.4 Trillion

Trade spats could cut 1.5% from global GDP; 3% in Asia
War in Ukraine remains biggest drag on economic growth

WATCH: IMF’s Georgieva says the rise of trade barriers against China and other countries over the past year could cost the global economy $1.4 trillion, on top of the severe damage being done by the war in Ukraine. Source: Bloomberg

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By Stephen Engle, Michelle Jamrisko, and Suttinee (Ying) Yuvejwattana

November 19, 2022 at 8:37 AM UTC

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The rise of trade barriers against China and other countries over the past year could cost the global economy $1.4 trillion, on top of the severe damage being done by the war in Ukraine, the head of the International Monetary Fund said.