The International Monetary Fund cautioned that escalating trade tensions due to President Trump's tariffs could hinder global economic growth, revising its growth prediction to 2.8% for the year. The U.S. is especially affected, with growth estimates dropping to 1.8%. Tariffs of 145% on Chinese goods have paralyzed trade, leaving manufacturers like Jonathan Silva's unable to deliver products, resulting in significant financial losses. Meanwhile, international talks led by British officials aim to unite U.S. and European peace efforts regarding the Russia-Ukraine conflict.
The International Monetary Fund issued a warning that the global economy could face significant challenges due to Trump's tariffs sparking a trade war.
President Trump's tariffs could lead to a significant economic slowdown, with the IMF lowering its prediction for U.S. growth to 1.8% this year.
Goods from China are facing tariffs of 145%, which has left companies like Jonathan Silva's stranded, leading to halted $16 million worth of orders.
Discussions in London among U.S. and European officials will focus on forming a cohesive approach to peace in the ongoing conflict between Russia and Ukraine.
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