IMF warns G-20 that tariffs are hurting world economy as Trump threatens more
The International Monetary Fund (IMF) warned world economic leaders on Saturday that a recent wave of trade tariffs would significantly harm global growth, a day after US President Donald Trump threatened a major escalation in a dispute with China.
IMF managing director Christine Lagarde said she would present the Group of 20 finance ministers and central bank governors meeting in Buenos Aires with a report detailing the impacts of the restrictions already announced on global trade.
"It certainly indicates the impact that it could have on GDP (gross domestic product), which in the worst case scenario under current measures... is in the range of 0.5 per cent of GDP on a global basis," Lagarde said at a joint news conference with Argentine Treasury Minister Nicolas Dujovne.
In the briefing note prepared for G-20 ministers, the IMF said global growth may peak at 3.9 per cent in 2018 and 2019, while downside risks have increased due to the growing trade conflict.
US struggling to convert North Korea promises into progress: Experts
The US appeal at the United Nations for "full enforcement" of sanctions against North Korea underscored the difficulty of attaining real progress on denuclearisation, more than a month after the much-vaunted Donald Trump-Kim Jong Un summit.
In their joint declaration after the historic meeting June 12 in Singapore, the North Korean leader "reaffirmed his commitment" to the "complete denuclearisation of the Korean Peninsula."
But the actual details of the process, including how and by what timetable the North's nuclear programme is to be dismantled, have yet to be negotiated.
'I couldn't look at a football' after the World Cup, says Neymar
Brazil superstar Neymar admits that after his nation’s quarter-final defeat to Belgium at the World Cup he couldn’t look at a ball and didn’t want to see any of the remaining matches.
“I wouldn’t go as far as to say I didn’t want to play again but, I didn’t want to see a ball, or to see any more football played,” 26-year-old Neymar told AFP in an exclusive interview on Saturday..
“I was in mourning, I was really sad about it, but sadness passes, I have my son, my family, my friends and they don’t want to see me moping around. I’ve got more reason to be happy than sad,” said Neymar, reflecting on his team’s 2-1 quarter-final defeat to Belgium.
Formula One: Hamilton vows to drive as if his life depends on it
Formula One world champion Lewis Hamilton prepared for the drive of his life after a hydraulics problem in qualifying left him 14th on the starting grid for Sunday's German Grand Prix.
"I will never give in or give up. Tomorrow is a new day and as always I will drive like my life depends on it," the Mercedes driver declared on social media after trying to push his stricken car back to the pits in a dramatic session.
"Good or bad, I will die before I give in," said the Briton, who is eight points behind Ferrari's Sebastian Vettel at the halfway point in the season.
Golf: Spieth cards 65 to share lead with Schauffele and Kisner
Jordan Spieth has a chance to keep pace with Tiger Woods’ major championship tally after vaulting into a share of the third-round lead at the British Open on Saturday.
The defending champion never looked back after making a “dream start” en route to a six-under-par 65 for a three-way tie with Xander Schauffele and Kevin Kisner at Carnoustie.
In perfect conditions for low scoring until a brisk breeze sprang up just as Spieth was finishing, the 24-year-old Texan drove the first green and sank a 12-foot eagle before adding four birdies.