International Monetary Fund (IMF) has warned that worsening trade tensions and exchange of tariffs could cause significant economic cost  to the global economy.
IMF spokesman Gerry Rice told reporters in Washington today that the global lender is still assessing the impact of the duties imposed so far .

The United States is due to impose punitive tariffs on USD 200 billion in Chinese goods on Monday, bringing the total to USD 250 billion, on top of separate duties on steel and aluminum from around the globe. China has retaliated on USD 110 billion in US goods, the majority of all its imports from the United States.