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US & China tariffs might lower the global economic output by 0.8% in 2020 & trigger more losses: IMF

The IMF says that tariffs imposed by US & China might possibly lower the level of global economic output by 0.8% in 2020 & trigger additional losses in future. IMF spokesperson Gerry Rice said a global recession was not in the fund's baseline & added 'Let's not get ahead of ourselves; let's wait & see'. He said global trade tensions were starting to weigh down dynamism in a global economy that's already facing tuff challenges.