Extensive tariffs introduced by U.S. President Donald Trump present a considerable threat to the global economy, particularly at a time when growth has been stagnant, as noted by the head of the International Monetary Fund in a new statement.
IMF Managing Director Kristalina Georgieva emphasized the necessity of avoiding actions that could further damage the global economy and urged the United States and its trading partners to engage collaboratively in reducing tensions.
“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 articulated in her most pointed remarks to date regarding the dangers posed by the U.S. trade actions.
“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,” Georgieva added.
Read more: U.S. tariffs could constrict global trade by 1 percent in 2025, WTO warns
IMF’s upcoming assessment
Georgieva mentioned that the IMF would deliver its evaluation of the newly announced tariffs when it publishes an update to its World Economic Outlook during the meetings scheduled from April 21-26 in Washington, D.C. These meetings will convene members and shareholders of both the IMF and the World Bank.
The U.S. tariffs unveiled on Wednesday exceeded the levels that had been anticipated or forecasted by trade experts.
