UPDATED 11:20 AM PT – Sat. June 8, 2019
Economic world leaders are reacting positively to the deal struck between the U.S. and Mexico to hold off on imposing tariffs.
The governor of the Bank of Japan, Haruhiko Kuroda praised the breakthrough in negotiations, while speaking on the sidelines of the G-20 Financial Ministers Summit in Japan Saturday.
He explained how in his opinion, the move will help the global economy to recover faster from last year’s downturn, which affected Europe and parts of Asia.
“It’s good that the 5% tariff against Mexico has been called off, not just for the United States and Mexico but also for the global economy,” said Kuroda. “There’s no change to the view the global economy will pick up in the latter half of this year. But uncertainties indeed remain, particularly those regarding trade.”
He believes global economic growth will pick up later in the year, due to supportive policies from central banks, and stimulus measures being tried in China.