WASHINGTON (Reuters) – The International Monetary Fund said on Thursday it saw signs of de-escalation in trade tensions between the United States and China, which could reduce the damage already caused to the global economy by tit-for-tat tariffs.

Managing Director Kristalina Georgieva said she was encouraged by news of a tentative trade deal reached by Washington and Beijing last week, but urged the world’s two largest economies to work toward a lasting “trade peace”.

Georgieva, speaking with reporters at the IMF/World Bank annual meetings, also called for countries to work together to reform the global trade system, to ensure a more peaceful and prosperous world in the future.

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