Tariffs cause "potentially self-inflicted wounds": IMF
WASHINGTON, April 2 (Xinhua) -- Managing Director of the International Monetary Fund (IMF) Christine Lagarde said here Tuesday that imposing import tariffs won't eliminate trade deficits and will cause "potentially self-inflicted wounds."
Addressing the 13th Annual Capital Markets Summit held at the U.S. Chamber of Commerce headquarters, Lagarde said it's true that not everyone has benefited from global trade, that there are distortions in the trade system, and that the system needs to be reformed but "trade barriers are not the answer."
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