Big Take Asia How Trump’s Tariffs Are Hitting Global Economic Growth
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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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Tariffs Trigger Global Economic Volatility
- Trump's tariff announcements introduced unprecedented volatility and uncertainty into global markets.
- The International Monetary Fund warns these policies will slow economic growth worldwide.
IMF Adapts Forecasting for Tariffs
- The IMF had to scrap usual forecasting methods due to sudden tariff announcements.
- They introduced scenario-based forecasts reflecting uncertainty about trade developments.
Slow Growth Hits Exporters Hardest
- The IMF projects global GDP growth will slow to 2.8%, mainly hurting export-dependent manufacturing economies.
- China, Vietnam, and Mexico are vulnerable; service sectors and some countries may offset slowdowns.