President Donald Trump’s tariffs have caused a “major negative shock” to growth in the global financial system, the International Monetary Fund (IMF) has warned. U.S. tariffs and “countermeasures” brought by trading partners have brought “effective tariff rates to levels not seen in a century” causing a “negative impact on economic activity and the outlook,

Global banking and financial markets are calm with low volatility as central banks have begun easing rates after bringing inflation back near target, the IMF said in Washington, DC Monday (April 21)“Our assessment is that the global financial stability risk has increased significantly due to heightened economic policy uncertainty and rising market volatility.