28 March | Dollar

International Monetary Fund warns of damage new tariffs impose on US GDP growth

International Monetary Fund warns of damage new tariffs impose on US GDP growth

The International Monetary Fund (IMF) expects a slowdown in US gross domestic product (GDP) growth this year as a result of new import duties. 

However, according to analysts of the organization, the probability of recession in the foreseeable future is still low.

According to Director of the Communications Department of the IMF Julie Kozack, recent changes in economic policy and current US data indicate a decline in business activity after a period of strong growth in 2024. Nevertheless, a recession is not considered to be part of the basic scenario.

Since taking office, US President Donald Trump has already imposed a number of import duties. On Wednesday, he announced a 25% tariff on all cars manufactured abroad. He also warned of possible further increases in duties against the European Union and Canada if their cooperation hurts the US economy.

Final data released Thursday showed the US economy grew 2.4% in the fourth quarter, exceeding the projected 2.3%. However, the pace of GDP slowed markedly from the third quarter, when the economy expanded by 3.1%.

Elena Dorokhina MarketCheese
Period: 25.07.2025 Expectation: 440 pips
AUDCAD gains on technical bounce and improved sentiment in commodity markets
Yesterday at 10:05 AM 28
Period: 25.07.2025 Expectation: 1700 pips
GBPUSD struggles to regain momentum as uptrend breaks
Yesterday at 09:14 AM 26
Period: 25.07.2025 Expectation: 222 pips
Buying natural gas with target at 3.780 amid record heatwaves in US and Asia
17 July 2025 62
Period: 25.07.2025 Expectation: 15000 pips
ETHUSD rally accelerates as US moves forward with crypto legislation
17 July 2025 65
Period: 23.07.2025 Expectation: 600 pips
USDCAD gains strength amid dollar rally and falling oil prices
16 July 2025 86
Period: 25.07.2025 Expectation: 1000 pips
Nvidia's return to China pushes shares toward 180 level
16 July 2025 78
Go to forecasts