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The U.N. has issued a warning about the potential economic consequences of a global trade war and a trade war between China and the U, according to The Hill.
The United Nations’ International Monetary Fund has been warning of the possibility of a new round of trade war, the Hill reported.
It’s unclear if the Trump administration is listening to the warning, according Toilolo.
“I’m not sure we’re getting a lot of clarity,” Toilolosaid.
“It’s pretty hard to say if this is a serious threat or not.”
The Hill reported that the Treasury Department is investigating potential violations of trade agreements in China, which include unfair trade practices.
Some of the cases are being investigated by the U., which could mean the Treasury could be sanctioned, according TOILOLO.
Toiloloesubtle that it’s “pretty difficult” to make a determination if the U has violated a trade agreement.
We can’t say whether we’re breaking the law or not, he said.
Treasury Department officials did not immediately respond to CNBC’s request for comment.
In December, the Trump White House announced that it had terminated its trade war with China and is working on an economic strategy to fight back against the Chinese economy.
That plan is based on an approach called the “One China” policy, which recognizes China as the “sole legitimate government of China,” according to the White House.
But the U of A professor said the Trump policy has already been severely watered down by the Trump Administration.
Professor of Chinese and American Studies Richard Stokes, who has written about China, said it is “quite a big step” for the U to withdraw from the One China policy, according the Hill.
“I think that’s a big shift in U.A.E. policy from not to do anything to do with China,” Stokes said.
“And I think that is a real shift.”