Shopping cart
Your cart empty!
Trump tariffs to knock growth but won't cause global recession, says IMF
The ripping up of the trade rule book caused by President Trump's tariffs will slow economic growth in some countries, but not cause a global recession, the International Monetary Fund (IMF) has said.
There will be "notable" markdowns to growth forecasts, according to the financial organisation's managing director Kristalina Georgieva in her curtain raiser speech at the IMF's spring meeting in Washington. Some nations will also see higher inflation as a result of the taxes Mr Trump has placed on imports to the US.
At the same time, the European Central Bank said it anticipated less inflation from tariffs. Money: Chef on a classic he'll never order Earlier this month, a flat rate of 10% was placed on all imports, while additional levies from certain countries were paused for 90 days.
Car parts, steel and aluminium are, however, still subject to a 25% tax when they arrive in the US. This has meant the "reboot of the global trading system.
Amir Nisi
Creative and experienced content writer with 6+ years of experience lazy to create unique content strategy for News5 to turn website visitors into customers.
Related to this topic:
AI and Marketing: Unlocking Customer Insights
Feb 22, 2024
