IMF chief urges countries to move ‘swiftly’ to resolve trade tensions that threaten global growth
By PAUL WISEMAN Associated Press Economics Writer WASHINGTON AP The head of the International Monetary Fund urged countries to move swiftly to resolve contract disputes that threaten global economic advance IMF managing director Kristalina Georgieva stated the unpredictability arising from President Donald Trump s aggressive campaign of taxes on foreign imports is causing companies to delay investments and consumers to hold off on spending Uncertainty is bad for business she communicated reporters Thursday in a briefing during the spring meetings of the IMF and its sister agency the World Bank Georgieva s comments came two days after the IMF downgraded the outlook for world economic upsurge this year The -country lending organization which seeks to promote global rise financial stability and to reduce poverty also sharply lowered its forecast for the United States It disclosed the chances that the world s biggest financial system would fall into recession have risen from to about Georgieva warned that the economic fallout from bargain conflict would fall most of heavily on poor countries which do not have the money to offset the damage Since returning the White House in January Trump has aggressively imposed tariffs on American trading partners Among other things he s slapped import taxes on China and on almost every country in the world raising U S tariffs to levels not seen in more than a century But he has repeatedly changed U S approach suddenly suspending or altering the tariffs and left companies bewildered about what he is trying to accomplish and what his end challenge might be Trump s tariffs a sharp reversal of decades of U S protocol in favor of free deal and the resulting uncertainty around them have caused a weekslong rout in financial markets But stocks rallied Wednesday after the Trump administration signaled that it is open to reducing the massive tariffs on China There is an opportunity for a big deal here U S Treasury Secretary Scott Bessent announced Wednesday
