The I.M.F. and World Bank are holding their spring meetings as President Trump’s trade war upends the global economy.

The outlook for the US and global economies this year and next has significantly worsened in the wake of the uncertainty President Trump's tariffs have created.

Specifically, the IMF warned that tariff turmoil could weigh heavily on banks, as a trade shock could force banks to park more funds against potential losses, reduce noninterest income if there is a slowdown in capital markets, or disrupt trade finance, a driver of $18 billion in bank revenue worldwide.

President Donald Trump’s trade war is threatening the global financial stability that’s kept banks and insurers safe since the 2008 crisis, the International Monetary Fund warned, as it urged policymakers to bolster their industries’ defenses.

The swift escalation of trade tensions and extremely high levels of policy uncertainty are expected to have a significant impact on global economic activity,” IMF wrote. Rele

The International Monetary Fund projects sluggish growth for the U.S. economy this year due to an escalating trade war, reinforcing economists' warnings about the negative repercussions of President Trump's tariffs.