The IMF is hoping that China and the United States will reach a broader trade agreement in the coming months.
In its latest economic update, released Monday, the IMF trimmed its global growth forecasts.The IMF upped its growth forecast for China by 0.2 percentage points for 2020, to 6%.
The two largest economies in the world agreed to roll back some of their existing trade tariffs last week in what was dubbed as a "phase one" deal. The agreement also envisaged higher Chinese purchases of U.S. agricultural goods and it was seen as a temporary truce in a two-year-long dispute between Washington, D.C., and Beijing. However, the IMF is expecting more from both nations.
"We would hope there would be a more comprehensive deal between the U.S. and China as the months go by," Gopinath also told CNBC at theIn its latest economic update, released Monday, the IMF trimmed its global growth forecasts. The Fund now expects a global growth rate of 3.3% for 2020. In the report, theThe signing of the deal is expected to boost the Chinese economy slightly. The IMF upped its growth forecast for China by 0.2 percentage points for 2020 to 6%.
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