The global economy demonstrates a challenging outlook due to trade tensions and persistently high uncertainty, Julie Kozack, Director of the Communications Department of the International Monetary Fund (IMF), Report informs.
"When we look at the global economy, we see that indicators reflect the difficult situation created by trade tensions... We have witnessed a period of very high uncertainty," she said during a briefing.
According to Kozack, trade conflicts are accompanied by increased tariffs on steel, aluminum and copper, which affects all international trade.
She also stated that the IMF will complete a comprehensive assessment of the impact of US tariffs on the global economy next week.
Kozack recalled that in April, the effective rate of US tariffs fell from 25% to 14%, but since then it has changed in both directions, and the new final assessment will be known next week.