IMF: Donald Trump tariffs would damage US, global economies

The International Monetary Fund warned today that the steel and aluminum tariffs announced by President Donald Trump will harm the US and global economies.

"The import restrictions announced by the US President are likely to cause damage not only outside the US, but also to the US economy itself," IMF spokesman Gerry Rice said in a statement.

He said the move raises fears other countries could use national security rationale "to justify broad-based import restrictions," and urged countries to work to resolve trade disagreements without such extremes.