Trump tariffs pose ‘significant risk’ to global economy, says IMF

The International Monetary Fund is still assessing the impact of the United States’ ‘Liberation Day’ policy, but its managing director Kristalina Georgieva said countries should avoid moves that would make things worse. (Photo from the IMF website)

MANILA, Philippines — The World Bank called on the United States and countries slapped with President Donald Trump’s “reciprocal” tariffs to ease trade tensions.

The  multilateral lender’s chief described Washington’s levies as a cause of great risk and uncertainty.

“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,” IMF managing director Kristalina Georgieva said in a statement.

“It is important to avoid steps that could further harm the world economy,” Georgieva said.

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“We appeal to the United States and its trading partners to work constructively to resolve trade tensions and reduce uncertainty,” she added.

Georgieva said the IMF will share the results of its assessment in their latest World Economic Outlook report.

This will be issued during the IMF/World Bank Spring Meetings later this month.