Global risk 'confluence,' as tariffs, Brexit, weaker forecasts collide

Higher tariffs. Slower growth. The countdown to Brexit.

FILE PHOTO: A woorker packages wheel of Parmesan cheese at storehouse shelf 4 Madonne Caseificio dell'Emilia dairy cooperative in Modena, Italy, February 16 2016.REUTERS/Alessandro Bianchi

The immediate concern: A new 25% tariff imposed by the United States on some European food and beverage imports due to take effect on Friday. Globally, it may already be happening as the fallout from the U.S.-China trade war gets felt more broadly. The IMF last summer trimmed its 2019 forecast by 0.1 percentage point, to 3.2%, the slowest since the crisis era a decade ago.

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