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Tag: WTO security exceptions

Trump Unleashes the Most Disruptive Tariff Shock of the Decade: IMF Sounds Global Economic Alarm

On April 22, 2025, the International Monetary Fund (IMF) issued a grim warning that sent ripples through financial markets and global policymaking communities: the sweeping tariff increases initiated by former U.S. President Donald Trump had unleashed what it termed a "major negative shock" to the global economy. This dramatic development, paired with downgraded growth forecasts for nearly every major economy—including the United States, United Kingdom, and numerous developing countries—ushers in a critical juncture in trade policy, international economic law, and global governance.