IMF: US tariff policy impacts global macroeconomy

The International Monetary Fund released a report on the 22nd local time, saying that the US Trump administration's practice of imposing import tariffs on almost all trading partners may further have a significant impact on the global macro economy. The report pointed out that the US tariff increase will reduce global demand in the short term, lead to higher import prices and further exacerbate inflationary pressures. In addition, the uncertainty of tariffs may also weaken consumer and business confidence and exacerbate financial market volatility. The report pointed out that the US tariff increase may lead countries to respond to the growing trade imbalance by further raising trade barriers, resulting in increased geo-economic fragmentation, which will be lasting damage to the global economy. (CCTV News)