The global economical system, in which most countries have operated for the past 80 years, is restarting, startinga fresh era, reported the global Monetary Fund (IMF).
"The global economical strategy in which most countries have operated for the last 80 years is reset, starting a fresh era for the world. Existing rules are contested and fresh ones have not yet emerged," the organisation stated in a published statement.
The Fund drew attention to the "alpine" import duties announced by the US since the end of January 2025, which started with Canada, China, Mexico and critical sectors, and "achieved a climax in almost universal charges" on 2 April.
"The effective U.S. rate of work has importantly exceeded the levels achieved during the large Depression, while the retaliatory measures of the major trading partners have importantly increased global value," the IMF stressed.
The organisation estimates that if a sharp increase in customs duties and the accompanying uncertainty persists, this will importantly slow global economical growth.
"Many advanced economies believe that globalisation has unfairly dispelled many home jobs in the manufacturing industry. There is any point to that," the IMF acknowledged.
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IMF announces a fresh era in the global economy
