Statement by IMF Spokesperson on Announced U.S. Import Tariffs
IMF News, March 2, 2018
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- Statement by IMF Spokesperson on Announced U.S. Import Tariffs
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Bibliographic details
- Published: March 2, 2018
Overview
- Press Release No. 18/70
- Date: March 2, 2018
- Issued by: IMF Communications Department
- Media relations contact: Phone: +1 202 623-7100 Email: MEDIA@IMF.org
Key findings and observations
- The import restrictions announced by the U.S. President are likely to cause damage not only outside the U.S., but also to the U.S. economy itself, including to its manufacturing and construction sectors, which are major users of aluminum and steel.
- Concern that the measures proposed by the U.S. will, de facto, expand the circumstances where countries use the national-security rationale to justify broad-based import restrictions.
- Direct quote from Gerry Rice, IMF spokesperson:
- “The import restrictions announced by the U.S. President are likely to cause damage not only outside the U.S., but also to the U.S. economy itself, including to its manufacturing and construction sectors, which are major users of aluminum and steel. We are concerned that the measures proposed by the U.S. will, de facto, expand the circumstances where countries use the national-security rationale to justify broad-based import restrictions. We encourage the U.S and its trading partners to work constructively together to reduce trade barriers and to resolve trade disagreements without resort to such emergency measures.”
Policy recommendations
- Encourage the U.S. and its trading partners to work constructively together to:
- Reduce trade barriers.
- Resolve trade disagreements without resort to emergency measures justified on national-security grounds.
IMF Communications Department, March 2, 2018.