Washington, DC: International Monetary Fund (IMF) Managing Director Kristalina Georgieva voiced alarm about the effect on the world economy after US President Donald Trump announced retaliatory tariffs, calling them a “significant risk to the global outlook.”

In her statement, Georgieva called on the US and its trading partners to “work constructively to resolve trade tensions and reduce uncertainty.”

“We are still assessing the macroeconomic implications of the announced tariff measures, but they clearly represent a significant risk to the global outlook at a time of sluggish growth,” the IMF said Thursday in a statement that quoted Georgieva. Avoiding actions that might worsen the global economy is crucial. We urge the US and its trading partners to cooperate in a positive manner to ease trade tensions and lower uncertainty.

Georgieva said that the IMF would publish the findings of its evaluation in the next World Economic Outlook.

“We will share the results of our assessment in the World Economic Outlook, which will be published at the time of the IMF/World Bank Spring Meetings later this month,” the head of the IMF said.

Trump stressed that the US economy and stock market will thrive after declaring retaliatory tariffs worldwide on Wednesday (local time).

In a quick interview with the media on Thursday, Trump said, “I think it’s going very well,” to a question about the stock market decline brought on by the tariffs. He also mentioned that the US would “have six or seven trillion dollars coming into our country.”

“The markets are going to boom,” he said. The stock will rise sharply. The rest of the world wants to see whether they can work out an agreement because the nation is going to grow. We have been exploited by these countries for a very long time.

Trump proposed tariffs of at least 10% on all nations, with rates considerably higher for 60 countries, and proclaimed a national economic emergency amid international outcry.

More than 180 nations and regions would be subject to duties, according to US media, which also noted that the tariff proposal placed significant taxes on numerous countries, including 26% on India, 49% on Cambodia, 46% on Vietnam, 34% on China, 24% on Japan, and 20% on the EU.

According to CNN, US markets fell during after-hours trading as President Donald Trump announced broad tariffs and gave speeches in the Rose Garden. When the Asian indexes start for trade, all eyes will be on them.