IMF warns of 'significant risk' to global economy from Trump tariffs as markets plunge

[BumRushDaShow]

Source: The Guardian

Fri 4 Apr 2025 03.51 EDT
Last modified on Fri 4 Apr 2025 09.51 EDT


The International Monetary Fund (IMF) has warned that Donald Trump’s implementation of swingeing tariffs poses a “significant risk” to the global economy, as stock markets were hit by a punishing worldwide sell-off by investors.

Kristalina Georgieva, the managing director of the IMF, said it was important that the US and its trading partners avoided further escalating Trump’s trade war, while stock markets plunged on Friday as China retaliated against the tariffs.

“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 said. “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.”

China retaliated on Friday, accusing the US of “bullying” and signalling a new front in the intensifying global trade war. The Chinese finance ministry said it would impose additional tariffs of 34% on all US goods from 10 April as a countermeasure to sweeping border taxes announced by the US president on Wednesday.

Read more: https://www.theguardian.com/business/2025/apr/04/imf-warns-of-significant-risk-to-global-economy-from-trump-tariffs-as-markets-slide

[Scrivener7]

1. We're one of the wealthiest economies. We are doing this

to economies where people are living on a knife edge. These tariffs will kill people

[moniss]

2. Dow off over 1600 points

and being a Friday this thing could really go bad, bad this afternoon. I forget where the market down limit is figured now before the "circuit breaker" halts go into effect but I wouldn't be surprised to hit it.

On Edit: The best I can find is it pegs to the S&P 500 at 7%, 13% and 20%. At 7 and 13 they halt for 15 minutes and at 20 they halt for the rest of the day.

[Martin68]

3. The fact is, Dump and his MAGA hard core love news like this. They hate any reliable institution, especially those that

include foreigners.

[mpcamb]

4. How far are we from impeachment? Nobody's happy.

This moron tanked 8 companies, couldn't make money on a casino; it's not going
to get better. What'll it take for republicans to step over the line and impeach him for
stupidity? He's incompetent, a narcissist and the writing on the wall... we, the US, can't
sustain this as everything falls apart.

How long will it be?