The implementation of tariffs, particularly those initiated during the previous U.S. presidential administration, has been a subject of intense debate. While proponents argue tariffs stimulate domestic job creation, wage growth, and overall economic expansion, critics contend these measures negatively impact global trade and economic stability.

Kristalina Georgieva, the head of the IMF, recently stated that the current global economic situation is "better than we feared, worse than it needs to be." Speaking on a podcast, Georgieva noted that global growth has fallen from a pre-COVID average of 3.7%. "This growth is too slow to meet the aspirations of people around the world for better lives," she added.

The impact of tariffs extends beyond simple economic calculations. They influence international relations, alter supply chains, and affect consumer prices in countries around the world. Businesses have been forced to adapt to the changing trade landscape, seeking new markets and adjusting production strategies to mitigate the effects of tariffs.

The ongoing trade dynamics between the United States and China, two of the world's largest economies, remain a critical factor in shaping the global economic outlook. Any future agreements or escalations in trade tensions between these nations will likely have significant repercussions for economies worldwide. The effects of these tariffs are expected to continue influencing global economic trends in the coming years, requiring businesses and policymakers to remain vigilant and adaptable.