New Delhi, Oct. 13 -- In April, after US president Donald Trump unveiled the so-called 'liberation day' tariffs, fears of a global trade collapse and a looming recession were widespread. Six months on, those fears have largely proved unfounded.

Mint explains why Trump's tariffs have not hurt the global economy as feared.

Much better than expected. In July, the International Monetary Fund (IMF) pegged its 2025 global economic growth forecast at 3%, around 20 basis points higher than its April forecast. Inflation is expected to remain benign at 4.2%.

Data from the World Trade Organization (WTO) released on 7 October show that global merchandise trade grew 4.9% in volume terms and 6% in dollar terms in the first half of 2025. The WTO has ...