Investing.com -- The International Monetary Fund (IMF) is forecasting a significant reduction in bilateral trade between the U.S. and China due to recent tariff impositions, according to the IMF’s chief economist, Pierre-Olivier Gourinchas. His statement was made on Tuesday.

The two countries, which are the world’s largest economies, have been involved in a trade dispute that has led to the implementation of these tariffs. Gourinchas expressed that if these tariffs continue to be upheld over the long term, the impact will be detrimental to all regions.

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