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The Guardian - AU
The Guardian - AU
Business
Greg Jericho

The IMF reckons the global economy remains ‘in flux’, but the Trump effect is real – and Australians aren’t fooled

Donald Trump International Monetary Fund United States Economy Australia
The Statue of Liberty sits in the distance as tourists ride the Staten Island Ferry in New York City
‘Ten per cent fewer Australians travelled to the US in August this year than they did last year. That was the only drop among our 10 most common travel destinations.’ Photograph: Spencer Platt/Getty Images

The latest IMF world economic outlook released on Wednesday does not mention “Trump” once in its 166 pages, but he is all over the report as his economic policies continue to make life difficult for everyone. But while the IMF reports Trump’s impact on the global economy is yet to be fully realised, Australian holidaymakers have already made their judgment and are deserting the US in droves.

The IMF always likes to be polite. It titled the October 2025 world economic outlook “Global Economy in Flux, Prospects Remain Dim” rather than as I would have: “Trump remains dim, so who the hell knows what will happen”.

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