He asserted that monetary and fiscal policies can 'stabilise' the global economy but structural policies need to be brought in.

China has also restricted import of certain types of waste paper due to environmental concerns.

The latest inflows have been triggered by improving investor sentiment on the back of easing US China trade war.

IMF spokesman Gerry Rice said trade tensions were beginning to affect a world economy already many facing challenges.

The accusation, which followed a sharp slide in the yuan on Monday, has driven an even bigger wedge between the world’s largest economies.

The value of products subject to new round of tariffs is approximately dollar 300 billion.