IMF Warns Trump Tariffs Could Trigger US Recession, Stifle Global Growth
Summary
The IMF cautioned that Trump's tariffs could severely hamper global economic growth, slash US growth projections, fuel domestic inflation beyond the Fed's target, and heighten the risk of a recession in the United States.
Key Points
- The IMF warned that Trump's tariffs will significantly slow global growth and increase the risk of a US recession.
- The IMF cut its growth forecast for the US and other major economies due to the impact of US tariffs.
- The IMF predicted that US tariffs will lead to higher inflation in the US, with consumer prices likely to grow above the Fed's target.