IMF Chief Raises Concerns Over US Tariffs, Calls for Constructive Dialogue

The International Monetary Fund (IMF) Chief Kristalina Georgieva has expressed concerns over the reciprocal tariffs announced by the United States on April 2. She stated that these tariffs pose a significant risk to the global outlook and urged the US to collaborate with its trading partners. The IMF, an organization that aims to promote monetary cooperation and sustainable growth among its 91 member countries, reacted after US President Donald Trump's announcement of reciprocal tariffs. The proposed tariffs have raised fears of a trade war and inflation, adding more uncertainty to the already sluggish global growth.

Georgieva emphasized the importance of avoiding steps that could harm the world economy further and appealed to the US and its trading partners to resolve trade tensions constructively. The IMF's outlook on global growth estimated a rate of 3.3% this year, lower than the average of 3.7% since the turn of the 21st century.

Later this month, the IMF will release the 'World Economic Outlook' report, discussing the impact of the recent tariffs imposed by the US. The report will be published during the scheduled spring meetings in Washington, as mentioned by Georgieva in her statement.

Donald Trump's reciprocal tariffs involved imposing a 10% duty on nearly all goods entering the US to address trade imbalances and support American industries. His proposal included a 10% tariff on all imports from countries except those complying with the US-Mexico-Canada Agreement (USMCA). Goods from non-compliant USMCA nations will continue to face a 25% tariff, affecting almost 60 countries with significant trade surpluses against the US.