Saturday , May 15 2021

A trade war between the United States and China will slow down global growth: Moody's



Credit Rating Agency Moody's on Thursday warned that global economic growth could decrease by 0.3 percent the next two years and foresees a more serious commercial conflict between the United States and China.

"We expect global economic growth to slow down 3 percent In 2019 and 2020 from an estimate of 3.3 percent 2017-18 year, "he said in a report.

Moody's added that the tariffs that were recently applied 200 billion dollars Chinese goods may go up to 25 percent January from its current level 10 percent.

"In both countries, the overall macro-direct impact on growth it should be manageable"The agency said, however, stressing that tensions between the two major world economies may be" widespread negative impacts on the weakening of investment. "


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