The head of the IMF spoke about the impact of US duties on the global economy
The openness of the global economy has been severely affected by US import duties, but there has not yet been a slide into a global trade war. This was announced on October 8 by the head of the International Monetary Fund (IMF) Kristalina Georgieva.
"The world has so far managed to avoid sliding into a tit-for-tat trade war. But openness, nevertheless, has suffered greatly," said the head of the IMF. Her performance was broadcast on the foundation's official You-Tube channel.
According to her forecasts, global public debt will exceed the volume of the entire global economy in 2029. She also noted that the growing demand for gold is an alarming signal that the global economy may face a test of resilience. Georgieva added that the effect of the US import duties on the global economy has not yet manifested itself.
"We will call for action in two main areas. First of all, measures to address the problem of the federal government's deficit, given that the ratio of federal debt to GDP is on its way to exceeding its historical maximum after World War II," the IMF chief added.
On April 2, US President Donald Trump announced the introduction of customs duties on products from 185 countries and territories. For Chinese goods, they later amounted to 145%.
Later, on May 12, Trump announced that the negotiations between China and the United States on trade differences in Geneva had been productive. He noted that the countries have achieved a complete reset of relations and agreed to reduce duties imposed after April 2 to 10% for 90 days. This deadline expired on August 12, but Trump announced that he had signed an executive order delaying the imposition of increased duties on goods from China for another 90 days.
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