IMF: Trump tariffs are crashing world economy, with US worst off
The multilateral lender thinks the U.S. will be hurt more than either Europe or China by Donald Trump’s tariff blitz.
By Carlo Martuscelli and Johanna Treeck, Politico
U.S. President Donald Trump’s trade war will badly dent the global economy and has raised the risk of a financial crisis, the International Monetary Fund warned on Tuesday.
On the eve of its spring meeting, the IMF slashed its global growth forecast for 2025 to 2.8 percent from 3.3 percent at its last quarterly update in January. The trade war will also remain a drag on growth next year, it said while cutting its growth forecast to 3 percent from 3.3 percent.
