Christine Lagarde, Managing Director of the International Monetary Fund (WMF) attends a news conference with representatives of the trade organizations after a meeting in the chancellery in Berlin, Germany, June 11, 2018. REUTERS/Michele Tantussi
Reuters: IMF's Lagarde says global economic outlook darkening by the day
BERLIN (Reuters) - International Monetary Fund chief Christine Lagarde led an attack by global economic organizations on U.S. President Donald Trump’s “America First” trade policy on Monday, warning that clouds over the global economy “are getting darker by the day”.
Trump backed out of a joint communique agreed by Group of Seven leaders in Canada at the weekend that mentioned the need for “free, fair and mutually beneficial trade” and the importance of fighting protectionism.
The U.S. president, who has imposed import tariffs on metals, is furious about the United States’ large trade deficit with key allies. “Fair trade is now to be called fool trade if it is not reciprocal,” he tweeted on Monday.
In response, Lagarde unleashed a thinly veiled attack on Trump’s trade policy, saying challenges to the way trade is conducted were damaging business confidence, which had soured even since the weekend G7 summit.
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WNU Editor: Globalists like International Monetary Fund chief Christine Lagarde are definitely feeling the pressure that the status quo that people like her have benefited over the years is changing.
