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: 11.07.2025 Expectation: 920 pips
GBPUSD falls as UK GDP unexpectedly shrinks
Today at 10:42 AM 1
Brent sell
Period: 17.07.2025 Expectation: 150 pips
OPEC's gloomy forecast drags Brent crude prices lower
Today at 08:53 AM 7
Period: 17.07.2025 Expectation: 26000 pips
Institutional investor demand could push ETHUSD to 3,000
Yesterday at 10:38 AM 35
Period: 16.07.2025 Expectation: 2000 pips
USDJPY prepares to retest 148 Level
Yesterday at 08:19 AM 38
Period: 16.07.2025 Expectation: 900 pips
NVIDIA shares rise amid global AI infrastructure investments
09 July 2025 66
Period: 15.07.2025 Expectation: 800 pips
Breaking downtrend could push USDCAD to 1.375
09 July 2025 44
Go to forecasts