IMF’s tariff warnings may be too little, too late
The Trump administration has brought the world to the brink of a systemic financial and economic crisis
The IMF is delivering stark warnings about the damaging impact of tariffs and other US actions on the global economy and financial markets. But it may be too little too late to avoid a financial meltdown and global recession.
She noted the jump in US tariffs “to levels last seen several lifetimes ago” but refrained from outright censure of the Trump administration. Others are less reticent. “The Trump administration is embarking on an economic equivalent of the Vietnam war – a war of choice that will soon result in a quagmire, undermining faith at home and abroad in both the trustworthiness and the competence of the United States – and we all know how that turned out,” wrote Adam Posen, president of the Peterson Institute for International Economics, in Foreign Affairs magazine.