The International Monetary Fund (IMF) has warned that a global trade war could have significant economic consequences. According to IMF Deputy Managing Director Gita Gopinath, a broad-based trade war between major economies could lead to a contraction in world GDP of around 7%, equivalent to the combined size of France and Germany's economies. This warning comes as concerns rise over potential re-election of Donald Trump, who has proposed introducing tariffs on all imports into the US. The IMF emphasizes the importance of rebuilding fiscal buffers to respond to future economic shocks.

Source: https://www.wionews.com/business-economy/imf-warns-world-to-avoid-global-trade-war-as-it-could-dent-global-economy-770245