International Monetary Fund (IMF) Managing Director, Kristalina Georgieva (R), with Director of Strategic Communications Julie Kozack, speaks at a press briefing on the global policy agenda during the International Monetary Fund (IMF) and World Bank Spring Meetings at IMF headquarters in Washington, DC, on April 13, 2023.
The U.S. would be better served by maintaining its open trade system rather than imposing new punitive duties on Chinese goods, the International Monetary Fund said on Thursday, adding that Washington and Beijing should work together to resolve their trade tensions.
IMF spokesperson Julie Kozack told a regular news briefing that such trade restrictions as those announced by President Joe Biden on Tuesday can distort trade and investment, fragment supply chains and trigger retaliatory actions.
"With respect to the tariffs, our view is that the U.S. would be better served by maintaining open trade policies that have been vital to its economic performance," Kozack said.
"We also encourage the U.S. and China to work together toward a solution that addresses the underlying concerns that have exacerbated trade tensions between the two countries."
Persons:
Kristalina, Strategic Communications Julie Kozack, Julie Kozack, Joe Biden, Kozack
Organizations:
Monetary Fund, Strategic Communications, International Monetary Fund
Locations:
Washington ,, U.S, Washington, Beijing, Japan, Germany, China