Higher tariffs & currency devaluation don’t solve trade disputes, IMF warns US & China ...News

The International Monetary Fund (IMF) has warned trade war rivals, China and the US, that hiking tariffs only harms both domestic and global growth. The IMF also noted that manipulating exchange rates also doesn't work. “Higher bilateral tariffs are unlikely to reduce aggregate trade imbalances,” the IMF said on Wednesday. The Washington-based organization added that imposing levies on imports from countries “deemed to have undervalued currencies,” as the recent US accusation against China, is actually futile. The IMF explained that the tariffs do not necessarily offset the same percentage of a more appreciated or overvalued exchange r

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