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How Trump’s Tariffs Are Hitting Global Economic Growth
Apr 23, 2025
Enda Curran, a Global Economy reporter for Bloomberg, and Tom Orlik, Chief Economist for Bloomberg Economics, delve into the impact of Trump’s tariffs on global growth. They discuss the IMF's forecast of a 2.8% GDP growth, revealing a concerning decline in U.S. projections. The conversation highlights the $2 trillion potential loss to global GDP and its comparison to major economies. They also emphasize the significant adjustments required in response to ongoing trade tensions and the importance of international dialogue at recent IMF meetings.
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Quick takeaways
- The IMF projects a significant global GDP growth decline to just 2.8% due to uncertainty caused by U.S. tariffs.
- Countries like Vietnam and China face heightened economic vulnerability as reduced trade with the U.S. threatens their stability and employment.
Deep dives
Impact of U.S. Tariffs on Global Economy
The recent announcements regarding U.S. tariffs have introduced significant volatility in the global economy. The International Monetary Fund has warned that these tariffs could lead to a global economic slowdown, with an estimated growth reduction projected at just 2.8% for global GDP. This decline is attributed to the uncertainty surrounding trade policies, which not only affects the U.S. but has ripple effects globally, particularly for countries heavily reliant on manufacturing and exports. For instance, nations like Vietnam and China are particularly vulnerable, as reduced trade with the U.S. threatens their economic stability, impacting employment and production levels.
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