International Monetary Fund Managing Director Christine Lagarde pauses as she speaks during the 2017 World Bank Group Spring Meetings in Washington. AP Photo/Carolyn Kaster
Davos – International Monetary Fund managing director Christine Lagarde said on Thursday she believes the IMF can work successfully with the Trump administration to improve the global trading system.

However, open trade must be preserved.

Lagarde said the IMF saw the need to reduce subsidies and other trade distortions that limit competition, but also said “protectionist measures” needed to be avoided.

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“From the various contacts that I’ve had with the administration so far, I have every reason to believe we will make progress, that we will co-operate all together in order to support and indeed improve the system as we have it,” Lagarde said.