US, Europe should avoid restrictive trade: IMF
Reuters, Madrid
The United States and Europe should avoid enacting trade restrictions to keep out cheap Chinese textiles, IMF chief Rodrigo Rato said in an interview published Friday."Trying to correct imbalances with restrictive trade measures seems like a grave mistake to us," the IMF’s managing director told Expansion financial daily in Niger on Thursday. Lawmakers in the US have threatened sanctions on Chinese textile exports unless China abandons its peg to the dollar, and European Commission President Jose Manuel Durao Barroso said on Wednesday the EU executive was ready to take more steps if needed to tackle a surge in textile exports from China.
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