IMF Chief Urges Fairer Global Trade System

IMF Managing Director Kristalina Georgieva emphasizes the need for a fairer, rules-based global trading system amid U.S.-China trade tensions. Speaking before the IMF and World Bank meetings, she highlights India's reduction of trade barriers as a positive step and urges further global reductions in tariffs.

Kristalina Georgieva, Managing Director of the International Monetary Fund, called for a reduction in trade uncertainties between the U.S. and China on Thursday. At an event in Washington, she stressed the importance of establishing a fairer, rules-based trading system between the world's two largest economies.

Georgieva discussed the negative perceptions fueled by increasing tariffs and non-tariff trade barriers, avoiding direct criticism of President Donald Trump's tariff policies. She highlighted grievances on both sides, with the U.S. concerned about China's intellectual property practices and China seeking engagement to stabilize economic relations.

Georgieva welcomed India's decision to reduce trade barriers and noted potential decreases in tariffs within the European Union. She expects bilateral discussions to foster wider actions in reducing global trade barriers, ultimately benefiting the world economy.

(With inputs from agencies.)