The International Monetary Fund (IMF) and World Trade Organization (WTO) have warned that countries are too reliant on the United States for economic growth, echoing President Trump’s calls for greater burden-sharing globally.
Leaders from major international organizations, including IMF head Kristalina Georgieva and WTO Director Ngozi Okonjo-Iweala, have expressed concerns about over-concentration in trade, which can create fertile ground for trade tensions and make economies more vulnerable to shocks.
The US has long been the world’s biggest consumer, but its economic shift could lead to a new risk. The IMF is expected to release its latest economic forecasts next week, which are likely to include “notable markdowns” due to Trump’s tariffs.
Global leaders and corporate executives are now trying to figure out how to rejigger their economies to be less reliant on the US in the longer run. President Trump’s tariff plan, dubbed “Liberation Day,” is one of the biggest economic gambles in presidential history.
The WTO forecasts that global trade will plummet this year due to Trump’s tariffs, with potential impacts on economic growth and vulnerable nations. The IMF warns that smaller advanced economies and most emerging markets rely more on trade for their growth, making them more exposed.
Source: https://www.axios.com/2025/04/18/wto-imf-free-trade-trump