International Monetary Fund go back on his pledge to fight against economic protectionism

24/04/2017-13:30


Drop the leaders of the International Monetary Fund and the World Bank pledge to fight trade protectionism of the final note to their meetings in the spring.

The IMF said in a statement obtained by the news that the economy "Member States" shall cooperate together in order to reduce the current account imbalances in international trade and, through appropriate policies.

This comes in while searching the Donald Trump ways to reduce trade deficits in the United States.

The Administration has threatened to impose tariffs on countries that have a trade surplus with the United States, including China and Germany under the "America first" policy that seeks to force management application.


"Reciprocal trade."

The IMF warned earlier this week that protectionist policies seriously impede efforts to improve global growth.

But us Treasury Minister Stephen mnochin said the meeting in Washington that President trump "trade agreements and believes in free trade."

He added: "what this means is that our markets are open, and there must be reciprocal nature of other markets should be open, too."

He called on the IMF to intensify its supervision on foreign exchange rates for Member States.

In the meantime, try the Mexican Central Bank President Agustin Carstens, who heads the Steering Committee of the International Monetary Fund, minimizing the importance of the Fund abandoned his pledge on protectionism, saying that the term "vague".

He added: "instead of talking too much about the meaning of this concept, we were able to put this (concept) in a positive and constructive."

The development came after she finished leading industrial Nations G20 for a two-day meeting in last March without renewing the long-standing commitment to promote free trade.

They dropped their pledge against protectionism after opposition from the United States.

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