IMF concerned over global tariff war, says it’s hurting world trade; expresses confidence in India

New Delhi (The Uttam Hindu): The International Monetary Fund (IMF) has expressed serious concern about US President Donald Trump's tariff policy. IMF Managing Director Kristalina Georgieva warned that such protectionist measures could undermine global trade and impact economic growth, particularly in emerging markets.

IMF issues major tariff warning, says 'This is a hurdle in the path of global trade…', expresses confidence in India : Georgieva said that in recent times some big economies are using tariffs as a policy tool, which is threatening the stability of international trade. She said that most countries are still supporting open and fair trade, as this is the basis of global development. Commenting on the US policy, she said that America has adopted tariffs as a tool in its trade relations with its partner countries, but interestingly the rest of the world has not chosen this path at present.

According to the IMF chief, only three of its 191 member countries—the United States, China, and, to a lesser extent, Canada—have taken concrete steps toward imposing tariffs, while the rest have upheld the principles of free trade. He urged major economies to work together to achieve a rules-based, transparent, and cooperative global trading system.

Georgieva once again expressed a positive view of India, saying that the Indian economy is among the fastest-growing global economies and is making a significant contribution to global growth due to its reforms and stable policies. Praising India's open economy policy, she said that focusing on competition and reforms is the most effective path to its sustainable development. Recently, the IMF had increased India's GDP growth forecast for the financial year 2025-26 to 6.6 percent and described India as the engine of the world's growth journey.