IMF warns of 'significant risk' to global economy from Trump tariffs as markets plunge [View all]
Source: The Guardian
Fri 4 Apr 2025 03.51 EDT
Last modified on Fri 4 Apr 2025 09.51 EDT
The International Monetary Fund (IMF) has warned that Donald Trump’s implementation of swingeing tariffs poses a “significant risk” to the global economy, as stock markets were hit by a punishing worldwide sell-off by investors.
Kristalina Georgieva, the managing director of the IMF, said it was important that the US and its trading partners avoided further escalating Trump’s trade war, while stock markets plunged on Friday as China retaliated against the tariffs.
“We are still assessing the macroeconomic implications of the announced tariff measures, but they clearly represent a significant risk to the global outlook at a time of sluggish growth,” Georgieva said. “It is important to avoid steps that could further harm the world economy. We appeal to the United States and its trading partners to work constructively to resolve trade tensions and reduce uncertainty.”
China retaliated on Friday, accusing the US of “bullying” and signalling a new front in the intensifying global trade war. The Chinese finance ministry said it would impose additional tariffs of 34% on all US goods from 10 April as a countermeasure to sweeping border taxes announced by the US president on Wednesday.
Read more: https://www.theguardian.com/business/2025/apr/04/imf-warns-of-significant-risk-to-global-economy-from-trump-tariffs-as-markets-slide
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