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Trade war

Trade war will hit China harder than US, IMF says

Chinese economy faces 1.6% haircut, while American losses expected at 0.9%

Imported food from the U.S. is seen at a Shanghai supermarket. China has slapped retaliatory tariffs on such items.   © Reuters

NEW YORK -- China and other Asian countries are expected to experience weaker economic growth as a result of global trade tensions, with Beijing's gross domestic product to be reduced by more than 1.6% next year, the International Monetary Fund said Tuesday.

"The disruption caused by an escalation of trade restrictions could be particularly large in the U.S. and China, with GDP losses of more than 0.9% in the U.S. and over 1.6% in China in 2019," the IMF said in its latest World Economic Outlook report.

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