WASHINGTON, D.C. — In a surprise move aimed at easing fears of a looming global recession, President Donald Trump announced a 90-day pause on most import tariffs on Wednesday, sending U.S.
Third of world economy to hit recession in 2023.
IMF cuts 2023 global growth to 2.7% on war and downturns
The bad news will be a major blow for the Biden administration as it prepares for a tough midterm election season.
US economy shrinks in second quarter, signaling unofficial start of recession.
The International Monetary Fund predicted Tuesday that the “Great Lockdown” recession, fueled by the coronavirus pandemic, will be the steepest in almost a century and warned that the world economy’s contraction and recovery would be worse than anticipated if the coronavirus lingers or returns.
