Asian markets drop further as IMF warns Trump tariffs ‘a significant risk’ to global economy – business live

Kristolina Georgieva warns against retaliation to US levies while US president insists ‘markets will boom’ after sweeping tariff announcementFull report: Global markets in turmoil as Trump tariffs wipe $2.5tn off Wall StreetAnalysis: Trump’s ‘idiotic’ and flawed tariff calculations stun economistsThe managing director of the International Monetary Fund, Kristolina Georgieva, has warned that Trump’s sweeping new tariffs “clearly represent a significant risk to the global outlook at a time of sluggish growth”.In a brief statement issued this morning, Georgieva cautioned against retaliation to American trade aggression, even as the European Union and China threatened to respond in kind. Continue reading...