Tariffs imposed by the United States and China may take 0.8% of the global economy in 2020 and cause further losses in subsequent years, Reuters reported referring to the International Monetary Fund. 

IMF spokesman Gerry Rice said that tensions in global trade are beginning to negatively affect the dynamics of the global economy, which is already facing serious problems, including a decline in production activity that has not happened since the 2007-2008 financial crisis.

Rice noted the global recession is not a base case for the fund.

"Let's not get ahead of ourselves. Let's wait and see," he said, noting the forthcoming world economic outlook would provide greater clarity.