Trump’s Tariff Plans Spark Fears Of Global Economic Downturn. IMF Warns Global Trade War Could Cut World GDP by 7%

Benzinga

The International Monetary Fund has warned that a global trade war could shrink the world economy by 7%, which is equivalent to the combined GDP of France and Germany. Concerns are growing over Donald Trump's potential re-election and proposal for a universal tariff of up to 20% on all U.S. imports. The European Union is already preparing for possible retaliatory measures. Deputy Managing Director Gita Gopinath emphasized the potential economic damage from decoupling while stressing the need to rebuild fiscal buffers.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02The International Monetary Fund has warned that a global trade war could shrink the world

00:06economy by 7%, which is equivalent to the combined GDP of France and Germany.

00:12Concerns are growing over Donald Trump's potential re-election and his proposal for

00:16a universal tariff of up to 20% on all U.S. imports.

00:20The European Union is already preparing for possible retaliatory measures.

00:24Deputy Managing Director Gita Gopinath emphasized the potential economic damage from decoupling

00:29while stressing the need to rebuild fiscal buffers.

00:32For all things money, visit Benzinga.com slash GSTV.

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