Global trade policy uncertainty ‘off the charts,’ IMF chief warns

Uncertainty over global trade policies is “off the charts,” the head of the International Monetary Fund warned in a speech Thursday, adding that the organization now expects “notable” markdowns to global growth predictions, but no recession.

“This is a reminder that we live in a world of sudden and sweeping shifts,” IMF Managing Director Kristalina Georgieva told reporters in Washington, DC, ahead of the publication of the World Economic Outlook report next week.

“To a large extent, what we see is the result of an erosion of trust — trust in the international system, and trust between countries,” she said. The remarks add to the chorus of warnings from economists of the risks to growth that US President Donald Trump’s tariff regime may pose.