Incoming ECB President Lagarde: Trade tensions biggest threat to global economy

FILE PHOTO: Christine Lagarde, the next president of the European Central Bank, speaks to the European Parliament’s Economic and Monetary Affairs Committee in Brussels, Belgium September 4, 2019. REUTERS/Francois Lenoir/File Photo September 23, 2019
WASHINGTON (Reuters) – Threats to trade are the biggest hurdle for the global economy, but the U.S. economy, the world’s largest, remains in a good place, Christine Lagarde, incoming president of the European Central Bank, told CNBC in an interview broadcast on Monday.
Lagarde, who headed the International Monetary Fund since 2011, told CNBC that tariffs imposed by the United States and China were expected to shave 0.8% off global economic growth in 2020, weighing like a “big, dark cloud on the global economy.”
At the same time, Lagarde said the U.S. economy was continuing to grow. “It’s in a very good place,” she said in an interview taped Friday.

(Reporting by Andrea Shalal and Lisa Lambert, Editing by Franklin Paul)


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