The International Monetary Fund (IMF) has welcomed India’s decision to reduce trade barriers and tariffs, saying it could lead to a more fair and rules-based trading system globally. Managing Director Kristalina Georgieva stated that both the US and China have trade grievances, but reducing uncertainty and agreeing on a fairer system is crucial.
Georgieva noted that the US has concerns over China’s intellectual property practices and non-tariff barriers, while China seeks engagement to put both economies on a solid footing. She emphasized the importance of reducing uncertainty and promoting a more rules-based system.
India’s decision to reduce tariffs and trade barriers is seen as a positive move for its growth prospects. Georgieva also hinted that other countries, such as the European Union, might consider reducing their own trade barriers, leading to broader benefits for the world economy.
Source: https://www.reuters.com/markets/imfs-georgieva-says-both-us-china-have-trade-grievances-2025-04-17