{"id":55656,"date":"2025-01-11T03:25:40","date_gmt":"2025-01-11T03:25:40","guid":{"rendered":"https:\/\/innodebt.com\/?p=55656"},"modified":"2025-01-11T03:25:41","modified_gmt":"2025-01-11T03:25:41","slug":"threat-of-trump-tariffs-adds-to-global-economic-uncertainty-imf-warns","status":"publish","type":"post","link":"https:\/\/innodebt.com\/?p=55656","title":{"rendered":"Threat of Trump tariffs adds to global economic uncertainty, IMF warns"},"content":{"rendered":"<div>\n<p>Unlock the White House Watch newsletter for free<\/p>\n<p class=\"article__content-sign-up-topic-description\">Your guide to what the 2024 US election means for Washington and the world<\/p>\n<p><iframe class=\"article__content-sign-up-iframe close\" scrolling=\"no\" id=\"signUpIframe\" data-prev-url=\"\/register\/in-article-sign-up?ft-content-uuid=814ed6f3-6020-49ed-8b00-eaee818e5931&amp;newsletter-id=65b8fec772badb00166eafc6\"><\/iframe><\/div>\n<div id=\"article-body\">\n<p>The IMF has warned that jitters surrounding Donald Trump\u2019s threat to impose trade tariffs were driving up longer-term borrowing costs and would add to pressures facing the global economy in 2025. <\/p>\n<p>Speaking to reporters in Washington on Friday, IMF managing director Kristalina Georgieva said global economic policy faced \u201cquite a lot of uncertainty\u201d in 2025, particularly around the trade policy of the world\u2019s largest economy.\u00a0<\/p>\n<p>\u201cThat uncertainty is actually expressed globally through higher long-term interest rates,\u201d Georgieva said, although she noted that short-term interest rates have gone down.<\/p>\n<p>Donald Trump was swept back into the White House promising to apply steep tariffs to imports to the US from its trading partners, including a blanket 20 per cent tariffs on all goods.<\/p>\n<p>He has also threatened to hit Canada and Mexico \u2014 now the US\u2019s largest trading partner \u2014 with tariffs of 25 per cent, and apply an extra 10 per cent on to Chinese goods, potentially heralding the start of a new era of global trade wars.<\/p>\n<p>US allies are nervously waiting to see whether the president-elect has the appetite to immediately apply the blanket tariffs when he is inaugurated as president on January 20, or whether he will hold off and take a more measured approach that hits specific sectors.\u00a0<\/p>\n<p>Along with trade policy, Georgieva said there was \u201ckeen interest globally\u201d in the broader economic policy choices of the incoming Trump administration, including on taxes and its deregulatory agenda.\u00a0<\/p>\n<p>The trade policy impacts will be especially felt by countries that are \u201cmore integrated into the global supply chain\u201d, Georgieva said, and in Asia.\u00a0<\/p>\n<p>Georgieva previewed some of the IMF\u2019s forthcoming World Economic Outlook for 2025, to be published next week, indicating that global growth is \u201cholding steady\u201d.\u00a0<\/p>\n<p>However, within the overall picture, US economic growth was doing \u201cquite a bit better than we expected\u201d, while the EU was \u201csomewhat stalling,\u201d she said. <\/p>\n<p>China faced deflationary pressures and domestic demand challenges, while low-income countries were \u201cin a position where any new shock can affect them quite negatively,\u201d she added.\u00a0<\/p>\n<p>In 2025, countries will still be facing the legacy of high borrowing during Covid, and would need to carry out fiscal consolidation to put public debt \u201con a more sustainable path\u201d, she said.\u00a0<\/p>\n<p>\u201cIt has proven very difficult for fiscal policy to act promptly, given public sentiments, and that takes us to what is our main challenge at the fund \u2014 and it is tackling this low growth, high debt conundrum,\u201d she said.<\/p>\n<p>She added that as US inflation was moving towards the Federal Reserve\u2019s target and new data showed a robust jobs market, the Fed could wait for more data before making further rate cuts.<\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.ft.com\/content\/814ed6f3-6020-49ed-8b00-eaee818e5931\" target=\"_blank\" rel=\"noopener\" rel=\"nofollow\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world The IMF has warned that jitters surrounding Donald Trump\u2019s threat to impose trade tariffs were driving up longer-term borrowing costs and would add to pressures facing the global economy in 2025. Speaking to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":55657,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[23],"tags":[],"class_list":{"0":"post-55656","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Threat of Trump tariffs adds to global economic uncertainty, IMF warns | Innodebt<\/title>\n<meta name=\"description\" content=\"Unlock the White House Watch newsletter for freeYour guide to what the 2024 US election means for Washington and the worldThe IMF has warned that jitters\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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