Tariffs do not solve tensions but erode global growth – Lagarde
In speech to the PBoC, ECB president says countries with surpluses and deficits must both try to find solutions
Christine Lagarde has said countries should work together to preserve the benefits of globalisation.
In a speech at the People’s Bank of China in Beijing on June 11, the European Central Bank president said coercive trade policies – such as tariffs – were “not a sustainable solution to today’s trade tensions”.
Such measures tried to address tensions by eroding “the foundations of global prosperity” rather than addressing the root causes of these tensions, she explained.
Lagarde spoke of a
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