IMF Managing Director Christine Lagarde on trade wars:
- “The macroeconomic impact would be serious, not only if the United States took action, but especially if other countries were to retaliate, notably those who would be most affected, such as Canada, Europe, and Germany in particular.”
- “In a so-called trade war, driven by reciprocal increases of import tariffs, nobody wins, one generally finds losers on both sides.”
- “There are some countries in the world that do not necessarily respect the World Trade Organization’s agreements, and which impose technology transfers. China is a case in point, but it is not the only country with such practices.”
