IMF warns against trade protectionism

The International Monetary Fund renewed its warnings against protectionism on Thursday as nationalist political trends threaten trade integration on both sides of the Atlantic.
As the IMF and World Bank kicked off what are normally staid meetings, with central bankers and finance ministers from 189 member countries gathering in Washington, anti-free trade rhetoric in the United States and Europe created a tense atmosphere.
In her opening remarks, Christine Lagarde, the IMF managing director, tried to downplay differences with new US President Donald Trump's administration over trade, financial regulation and climate change.
The fund this week bumped up its forecasts for global economic growth slightly to 3.5 per cent for this year, a recently rare upward revision reflecting a rosier view of conditions in Asia and Europe.
But while acknowledging disillusionment with globalisation, Lagarde said member countries should avoid the lure of trade barriers.