The International Monetary Fund (IMF) has raised concerns over the potential macroeconomic consequences of recent tariff measures, warning that they pose significant risks to the global economy, which is already struggling with slow growth.

IMF Managing Director Kristalina Georgieva emphasized that while the organization is still assessing the full implications of the new tariffs, they undoubtedly represent a considerable threat.

"We are still assessing the macroeconomic implications of the announced tariff measures, but they clearly represent a significant risk to the global outlook at a time of sluggish growth. It is important to avoid steps that could further harm the world economy. We appeal to the United States and its trading partners to work constructively to resolve trade tensions and reduce uncertainty," Georgieva said.

The tariffs, which include a 10% duty on Ghanaian goods entering the U.S., are part of a wider protectionist strategy that also targets Chinese imports with a 34% levy and a 20% tax on European Union products. These measures were announced by President Donald Trump in the White House Rose Garden, where he defended the tariffs as a necessary step to address what he described as long-standing economic imbalances. "Our country has been looted, pillaged, raped, and plundered by other nations. Taxpayers have been ripped off for more than 50 years. But that will not happen anymore," Trump declared.

The new tariffs have ignited backlash from multiple global trading partners, including China, which responded with additional 34% tariffs on U.S. goods, heightening the trade war between the world's two largest economies. China's retaliation also included restrictions on rare earth exports and a formal complaint to the World Trade Organization.

As a result of these escalating trade disputes, many countries, including the European Union, are preparing their own retaliatory measures. The European Union’s trade commissioner, Maros Sefcovic, expressed a measured approach, stating, "We will not shoot from the hip – we want to give negotiations every chance to succeed to find a fair deal, to the benefit of both sides." However, internal divisions within the EU have surfaced, with differing views on how to handle Trump’s tariffs and whether to invoke the bloc’s "Anti-Coercion Instrument" to counter economic pressure from the U.S.

The intensifying trade war has already caused significant disruptions in global financial markets, with fears of a looming recession growing stronger. Investment bank JP Morgan revised its forecast, now predicting a 60% chance of global recession by the end of the year, up from 40% previously.

As tensions continue to rise, the IMF is expected to provide a detailed assessment of the global economic outlook in its World Economic Outlook report, which will be released during the upcoming IMF/World Bank Spring Meetings.