BOJ Governor Kuroda commented during an interview with CNBC that protectionism with regards to global trade is the biggest threat to economic growth worldwide. Kuroda’s remarks come against the backdrop of US and China negotiating a deal to possibly end the trade war between them.

Global trade continues to remain in focus with the IMF also recently cutting economic growth forecast globally from 3.5% to 3.3% in 2019. It has attributed trade as one of the risk factors contributing to these revised estimates for global economic growth.

According to Treasury Secretary Steve Mnuchin, both US and China have several issues to resolve as they work towards securing a trade deal. He also added that the US, at its end, is willing to cough up penalties if it fails to comply with the terms and conditions mentioned in the soon to be formalized deal.