Following an event hosted by the New York Times on Thursday, the International Monetary Fund (IMF) spokesman Gerry Rice warned that the global GDP could be reduced by 0.8%, in the face of the tariffs imposed or threatened by the US and China.
Key Quotes:
“I don’t see it in U.S. as that big an impact.”
“World economic activity remained subdued, with trade and geopolitical tensions causing uncertainty and eroding business confidence, investment and trade.”
“Trade tensions .... are not only a threat, but are actually beginning to weigh down the dynamism in the global economy.”
“U.S.-China tariffs “could potentially reduce the level of global GDP by 0.8% in 2020, with additional losses in future years.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
U.S. Pres. Trump expected to announce reciprocal tariffs –LIVE
U.S. President Donald Trump is set to unveil the details of his reciprocal tariffs on what he dubs "Liberation Day." Markets are on high alert, bracing for increased volatility amid growing concerns that these tariffs could negatively impact both economic growth and inflation prospects.
EUR/USD loses the grip and retests 1.0800
The US Dollar is now picking up further pace and sends EUR/USD back to the 1.0800 neighbourhood following President Trump's announcements of reciprocal tariffs on Wednesday.
Gold looks consolidative near $3,120 ahead of Trump's “Liberation Day”
Gold is regaining momentum, climbing above $3,120 after a slight pullback from Tuesday’s near-record high of $3,150. Retreating US yields are bolstering XAU/USD, ahead of President Trump's official announcement of the reciprocal tariff measures later this Wednesday.
Trump’s “Liberation Day” tariffs on the way
United States (US) President Donald Trump’s self-styled “Liberation Day” has finally arrived. After four straight failures to kick off Donald Trump’s “day one” tariffs that were supposed to be implemented when President Trump assumed office 72 days ago, Trump’s team is slated to finally unveil a sweeping, lopsided package of “reciprocal” tariffs.
Grayscale launches Bitcoin options ETF with a focus on income generation
In a press release on Wednesday, Grayscale announced the launch of Bitcoin options-based ETFs, the Grayscale Bitcoin Covered Call ETF (BTCC) and Grayscale Bitcoin Premium Income ETF (BPI).
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.