But the US policy moves are counterproductive, won't achieve the desired results, and will slow the"Higher bilateral tariffs are unlikely to reduce aggregate trade imbalances, as they mainly divert trade to other countries," Gopinath warned in a blog titled"Taming the Currency Hype," co-authored by fellow IMF researchers Gustavo Adler and Luis Cubeddu.
The authors warned that"one should not put too much stock in the view that easing monetary policy can weaken a country's currency enough to bring a lasting improvement in its trade balance." With the IMF and others alerting that his trade war is slowing global growth, and as warning signs of a US recession have flashed red, Trump has doubled down on his attacks on the and on China.
Just last month, the IMF again downgraded its global growth forecast, and said the trade tensions make for a"precarious" 2020, in which tariffs threaten to exacerbate the slowdown of China's economy.
Are these the same 'experts' who claimed the world economy would crash if Trump was elected? Asking for a friend.
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