International Monetary Fund Managing Director Kristalina Georgieva issued a stark warning on Thursday, cautioning that the latest tariff measures announced by US President Donald Trump could deepen economic uncertainty and threaten global growth.
"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 in a statement. She called on the United States and its trade partners to work constructively to resolve rising trade tensions and reduce uncertainty in an already fragile economic environment.
On Wednesday, President Trump announced a new set of reciprocal tariffs ranging from 10% to 50% on imports from several trade partners. Under the new measures, the US will impose a 20% tariff on European Union goods, 34% on Chinese imports, 46% on Vietnamese products, 32% on Taiwanese exports, 24% on Japanese goods, 26% on Indian products, 25% on South Korean exports, 36% on Thai goods, 31% on Swiss products, 32% on Indonesian imports, 24% on Malaysian goods, 49% on Cambodian products, 30% on exports from South Africa and Bangladesh, and 17% on Israeli goods.
The IMF’s warning comes amid growing global concerns that heightened trade barriers could disrupt international trade flows, dampen investor confidence, and potentially trigger a broader economic slowdown. Georgieva added that the IMF is in the process of analyzing the broader effects of these measures and that the results will be detailed in the upcoming World Economic Outlook report, scheduled for release during the IMF/World Bank Spring Meetings later this month.
As global markets brace for further volatility, economists and policymakers alike stress the need for collaborative efforts to mitigate the risks posed by the escalating trade tensions.
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The International Monetary Fund (IMF) and World Bank held their Spring Meetings in Washington from 13 to 18 April. Finance ministers flew in, communiqués were drafted, and the usual parade of panels and press conferences ran their course.
The global financial blockade on Caracas has ended, with the International Monetary Fund and the World Bankannouncing they have resumed formal dealings with Venezuela.
Georgia is considering launching a development bank to boost key sectors of its economy, but the proposal has sparked debate over risks, transparency and the potential for costly mistakes.
A group of Azerbaijani civil society organisations has called for increased scrutiny of Swiss building materials giant Holcim, citing court rulings and ongoing investigations linked to its subsidiary Lafarge's activities during the Syrian conflict.
Iranian-made Yassin missiles were spotted mounted on Armenian Air Force fighter aircraft during Armenia's latest military parade on Thursday (28 May), drawing attention from defence observers and regional analysts.
The Philippines remains under a "severe threat" from China despite recent efforts by Washington and Beijing to ease tensions, Philippine Defence Secretary Gilberto Teodoro said on Saturday (30 May).
Thai rescuers say five people have been pulled alive from a flooded cave in remote Laos, where seven villagers became trapped after heavy rain cut off access underground.
U.S. rapper Kanye West, now known as Ye, performed to a crowd of 118,000 people in Istanbul on Saturday night, marking his first concert in Europe in more than a decade, despite being barred from performing in several countries over past antisemitic remarks.
South Africa's preparations for the 2026 FIFA World Cup have suffered an unexpected setback after the national team failed to depart for Mexico as scheduled on Sunday (31 May) because some players and officials had not yet received their visas.
Five people have died after a mine shaft collapsed during an illegal mining operation in southwestern China, state media reported on Sunday (31 May), just days after the country's deadliest mining disaster in more than a decade claimed at least 82 lives.
Thousands of people gathered across Colombo on Saturday night (30 May) as Sri Lanka's capital came alive with light and colour for Vesak, one of the most important festivals in the Buddhist calendar.
The Paris Saint-Germain (PSG) football team retained its Champions League title at Puskás Aréna in Budapest on Saturday night, after overcoming Arsenal 4-3 on penalties after a tense 1-1 draw following extra time.
The head of the World Health Organization (WHO) travelled to eastern Democratic Republic of Congo on Saturday (30 May), urging communities to seek medical care quickly and follow safe burial practices as authorities work to contain a rapidly growing Ebola outbreak.
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