US tariffs could undermine global trading system - IMF

The International Monetary Fund (IMF) has warned the Trump administration's move to impose tariffs on allies and China could undermine the global trading system. 

Key quotes (Source: Reuters, Kuwait News Agency)

"Unilateral trade actions can be disruptive and may even prove counterproductive to the functioning of the global economy and trading system"

"What is more critical and more difficult to factor in at the moment ... is the actual impact on confidence"

"These measures are likely to move the globe further away from an open, fair and rules-based trade system, with adverse effects for both the US economy and for trading partners"