Switzerland
The World Trade Organization and the International Monetary Fund are raising red flags over the economic fallout from new U.S. tariffs introduced by the Trump administration.
The WTO now projects global goods trade could shrink by 1 percent in 2025— a stark reversal from earlier growth forecasts. Director-General Ngozi Okonjo-Iweala warns these tariffs could spark a trade war, with countries retaliating and further disrupting global markets.
Meanwhile, IMF Chief Kristalina Georgieva echoed similar concerns, saying these measures pose a serious risk to global economic stability, especially at a time of sluggish growth.
The new tariffs, set to take effect Saturday, include a 10 percent baseline on all imports, with additional levies targeting nations with the largest trade deficits. Both organizations urge the U.S. and its trading partners to resolve trade tensions to avoid deeper economic uncertainty.
01:30
Trump to speak with Putin, then Zelenskyy, to push for Ukraine ceasefire
Go to video
Trump administration developing plan to move 1 million Palestinians to Libya, according to NBC News
Go to video
Donald Trump wraps up Gulf tour with a string of lucrative deals in UAE
Go to video
United Nations says Nigerian children in need has doubled since aid cuts
Go to video
Trump arrives in UAE on last leg of Middle East tour
Go to video
Iran's president says U.S. 'looting' planet, spreading insecurity