'Lack of retaliation against US tariffs aiding global growth'

Decisions by most countries to not retaliate against US President Donald Trump’s tariffs are among the top factors bolstering the global economy’s resilience, said International Monetary Fund (IMF) managing director Kristalina Georgieva on Oct 14.

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“The world, so far, and I cannot stress enough, so far, has opted not to retaliate and to continue to trade pretty much on the rules that have existed,” she said at an event during the IMF and World Bank annual meetings in Washington, noting that this avoided debilitating tariff escalation.

Earlier on Oct 14, the fund had edged up its 2025 global gross domestic product growth forecast in its World Economic Outlook to 3.2 per cent from a 3 per cent forecast in July. But it warned that a renewed US-China trade war threatened by Mr Trump could significantly slow output.