IMF warns on trade wars

China is ready to strike back with more tariffs as the US economic adviser tries to soothe markets. (AAP) Source: AAP

Official government figures shows China's economic growth slowed to 6.7 per cent in the second quarter of the year. 

Meanwhile, IMF estimates that the global economy will be 0.5% smaller by 2020 if the various tariffs threatened by the US, China, Europe, Mexico, Japan and Canada are all implemented.

President Donald Trump says says US tariffs against Chinese imports will take effect on Friday. (AAP) Source: AAP

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