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Bundesbank's Weidmann says U.S.-China trade war could reduce world trade by 1%

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Bundesbank's Weidmann says U.S.-China trade war could reduce world trade by 1%

Bundesbank's Weidmann says U.S.-China trade war could reduce world trade by 1%

According to a report by Reuters, on Sunday, Bundesbank President Jens Weidmann said that a trade dispute between the United States and China could reduce global trade by one percent in the medium term.

Following the conclusion of a meeting of G20 finance ministers and central bank governors, Weidmann said, “The world economy is suffering a lot from the uncertainty." He reportedly added that Germany's economy may shrink slightly in the second quarter, however no stimulus was yet necessary.

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