By coinnews 
00:00 Speaker A
The International Monetary Fund, the financial arm of the United Nations, issuing a warning about the ongoing global trade war. Here with more, Yahoo Finance’s Jennifer Schonberger. Hey Jennifer.
00:12 Jennifer Schonberger
Good morning. The head of the IMF warning that President Donald Trump’s tariffs will lead to markedly lower global growth, but isn’t predicting a recession. At the same time, inflation is expected to rise. These comments coming in a speech here in Washington by IMF Managing Director, Kristalina Georgieva, ahead of the IMF’s brand new World Economic Outlook due out next Tuesday, the first to include the impact of President Trump’s tariffs. Now, Georgieva is warning that the longer uncertainty persists, the larger the cost, raising the risk of stress in financial markets. She warned that the depreciation of the dollar and the uptick in bond yields here on the US should be taken as a warning shot, saying, quote, “Despite elevated uncertainty, the dollar depreciated and US Treasury yield curves smiled. It’s not the sort of smile one wants to see. Such movements should be taken as a warning. Everyone suffers if financial conditions worsen.” She stressed tariffs like all taxes raise revenue at the expense of reducing and shifting activity. And evidence from past episodes suggests higher tariff rates are not paid by trading partners alone. Importers, she said, pay some part through lower profits and consumers pay some part through higher prices. Next week, representatives from 191 countries will gather here in Washington for the IMF World Bank Spring Meetings where much of the dialogue is expected to center around trade as the US leads a new global reordering of trade. Georgieva calling on countries to lower their tariffs and non-tariff barriers. Back to you.
03:32 Speaker A
Jennifer, thank you so much as always, appreciate it.