IMF Director Georgieva warns unjustified tariffs and trade restrictions could cost the global economy 7% of GDP in a worst-case scenario.
IMF Director Kristalina Georgieva warns that "willy-nilly" tariffs and trade restrictions, led by the US, China, and EU, are the most worrisome trend for the global economy. Upto two-thirds of tariffs lack justification and could cost the world economy 7% of GDP in a worst-case scenario. The global economy is predicted to grow 1% slower than pre-pandemic levels, and Georgieva expects a soft landing, but with disappointing medium-term outlook.
June 04, 2024
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