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The Guardian - UK
The Guardian - UK
Business
Heather Stewart

The IMF boss is right to say ‘buckle up’ – the global economy is facing multiple menaces

International Monetary Fund Donald Trump Kristalina Georgieva Economy Unctad United Nations United States
An overhead shot of a vast array of various coloured terminals on the dock at Qingdao port, in China's eastern Shandong province
A row over China’s new export curbs on rare earth minerals has prompted Donald Trump to raise tariffs again. Photograph: AFP/Getty Images

Little more than 48 hours passed last week between a warning from the IMF chief, Kristalina Georgieva, that “uncertainty is the new normal” and Donald Trump’s latest tariff onslaught – this time aimed at China.

Markets plunged on Friday after Trump threatened to levy punitive additional tariffs of 100% on Chinese goods in retaliation for Beijing’s blocks on exports of rare earth minerals.

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