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5h ago

US–China Trade Clash Sets the Tone for IMF–World Bank Meetings

A sudden tariff threat after China’s mineral curbs reshapes the Washington agenda by elevating growth risks.

Signage for the International Monetary Fund (IMF) and World Bank Group (WBG) 2024 Annual Meetings is seen at the IMF secondary headquarters, in Washington, D.C., on Monday, October 21, 2024. (Graeme Sloan/Sipa USA)
GLOBAL ECONOMIC EDGE
IMF Managing Director Kristalina Georgieva has said the global economy has been performing better than feared despite US President Donald Trump's tariffs
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Overview

  • President Donald Trump said he would impose 100% tariffs on Chinese imports after Beijing restricted exports of critical minerals, reviving trade war fears.
  • Shares fell in after-hours trading on Friday as investors priced in the risk of a renewed tariff fight and potential supply chain disruption.
  • IMF chief Kristalina Georgieva urged policymakers to "buckle up," with the Fund expecting global growth near 3% in 2025 and warning that resilience has limits.
  • A Ukraine roundtable will review ongoing support and reconstruction needs, and G7 finance ministers plan to weigh tighter Russia sanctions and the use of frozen assets.
  • The United States is pressing the IMF and World Bank to prioritize core financial-stability missions, while World Bank president Ajay Banga highlights job-creation efforts.