The International Monetary Fund said on 29 July that global economic momentum is losing steam and is increasingly exposed to trade disruptions. While the world economy has so far displayed some resilience to the United States’ 145 percent tariff on Chinese goods, the Fund warned that the overall backdrop remains “precarious,” with growth already slowing and further shocks likely to deepen the downturn. Chief Economist Pierre-Olivier Gourinchas told reporters that mounting evidence shows the damage from recent trade shocks is “sizeable” and beginning to weigh on output across regions. He added that the IMF is scrutinising the details of Washington’s recent agreements with Japan and the European Union to assess whether the deals will hold or unravel, a factor he said could determine the severity of the coming slowdown.