Trade tariff uncertainty is "literally off the charts" but there will not be a global recession, the International Monetary Fund (IMF) has said.
The international economic group said in its forecast for the world economy that global share prices have dropped "as trade tensions flared" and warned about an "erosion of trust" between countries.
However, it stopped short of predicting a worldwide recession, saying "our new growth projections will include notable markdowns, but not recession".
The comments come as leaders and businesses respond to US President Donald Trump’s "Liberation Day" tariffs announced on 2 April.
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