The IMF has cautioned that Donald Trump's hefty tariffs could severely impact the global economy as stock markets experience major declines following retaliatory actions from China. IMF Managing Director Kristalina Georgieva emphasized the need for the US and its trading partners to de-escalate tensions to prevent further economic harm. China responded to the tariffs with its own increased tariffs, signalling a further escalation in the ongoing trade war. Global markets suffered substantial losses, raising concerns about a potential recession in the US, demonstrating the extensive repercussions of these trade policies.
"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," said Georgieva.
"This practice of the US is not in line with international trade rules, seriously undermines China's legitimate rights and interests, and is a typical unilateral bullying practice," stated China's state council tariff commission.
Collection
[
|
...
]