The International Monetary Fund has given a big warning (IMF Warning On Tariff) regarding Donald Trump’s tariffs. IMF Chief Kristalina Georgieva has called this a step that harms global trade and said that it can slow down the growth of emerging markets. Along with this, he once again praised the Indian economy and said that India is one of the fastest growing economies in the world and it is important for the world to remain open.
Tariff becomes weapon of big economies
IMF Chief Kristalina Georgieva, while alerting about the possible harm caused by tariffs, said that currently some of the world’s biggest economies have turned towards protectionist measures and are using tariffs as a weapon. At the same time, most countries still continue to support open and fair trade, because they believe that this is most important for global growth. He said that increasing use of tariffs could harm global trade.
Regarding US tariffs, Georgieva said, ‘The world’s largest economy has chosen to use tariffs as an instrument in its relations with partners, but interestingly, the rest of the world has not followed suit, at least not yet.’
3 out of 191 countries in favor of tariff
The IMF Chief further said that out of 191 member countries of the IMF, only three countries, America, China and to some extent Canada, have taken more vigorous steps to impose tariffs. The remaining 188 countries have said, ‘Thank you, but no.’ All these countries have chosen to continue trade under the Most Favored Nation rules. Kristalina Georgieva has appealed to major economies to work towards an open, fair and rules-based trading system.
IMF trusts India
The Director of the global organization IMF has again expressed confidence in India, saying that the Indian economy is one of the fastest growing economies in the world and is contributing significantly to global growth due to its reform efforts. Along with this, he also said that India is an open economy and remaining open, competitive and reform-driven is the best way to move forward. It is noteworthy that IMF has recently announced India’s economic growth for FY26. gdp Growth estimate has been increased to 6.6%. Along with this, India was termed as the growth engine for the development of the world.
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