Donald Trump’s fingerprints are all over the latest global economic forecast of the International Monetary Fund (IMF)… and not in a good way.

While much of the language in the 186-page document is cloaked in the typical jargon of economists who are trying to provide an impartial assessment of the world’s economy, it is quite clear that the IMF believes that Trump’s policies, in particular (but not exclusively) his tariffs, are a major source of uncertainty and a main reason why the economists believe that global growth will slow in the next two years.

So far, the IMF stated, the global economy has been surprisingly resilient in the face of the tariffs, especially because Trump scaled back many of them. However, the IMF believes that the cost of them, which so far have been primarily borne by importing companies, will increasingly be passed on to consumers, which could lead to a real slowdown of the US economy.

Most importantly, the volatile US president introduces a degree of uncertainty in the global economy that stifles growth because neither companies nor countries can make long-term plans.

Just in the past couple of weeks, he promised new levies on certain goods, like furniture and lumber, while also threatening China with a 100-percent tariff that would pour fuel on a smoldering trade war between the world’s two largest economies.

But the tariffs are not the only one of the president’s policies and actions that threaten the US economy, and by extension that of the entire world.

As the administration acknowledged itself in a document buried in the Federal Register earlier this month, Trump’s immigration and deportation policies are posing an imminent danger to the US food supply and grocery prices.

“In the United States, tighter immigration policies are shrinking the foreign-born labor supply — another negative supply shock on top of that from tariffs,” said IMF Director of Research Pierre-Olivier Gourinchas.

The US economy has also been helped by a boom in AI-related investments. However, many experts believe that this could be part of a massive bubble that, when it bursts, will cause significant disruptions to the world economy.

In addition, a weak dollar has also helped the US economy.

However, these conditions will not continue forever, and Trump’s actions pose other risks as well.

“Pressure on the independence of key economic institutions, such as central banks, could erode hard-earned policy credibility and undermine sound economic decision making, including as a result of reduced data reliability,” the IMF report states, a clear reference to Trump’s efforts to undermine the independence of the Federal Reserve.

Inflation is another source of concern… at least in the United States.

While Trump falsely claims that it is essentially non-existent in the US, reality unfortunately tells a different story.

While the IMF predicts that inflation will decline to 4.2 percent across the globe this year and then drop to 3.7 percent in 2026, it also notes that the US is expected to experience “above-target inflation” with “risks tilted to the upside.”

Its solution to stabilizing the global economy seems simple.

“The task ahead is to restore confidence through credible, predictable, and sustainable policy actions,” the IMF stated in its report.

Of course, with Trump at the helm of the world’s biggest and most important economy, that seems like an unachievable aspiration.