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The Graphic Truth: How COVID-19 will affect major economies

June 14, 2020
Gabrielle Debinski
and
Gabriella Turrisi

Lockdowns and social distancing restrictions have brought much of the global economy to a halt over the past few months, causing unprecedented levels of joblessness and throwing international commerce into disarray.

As the virus continued to spread throughout the first quarter of the year (there are now cases in at least 188 countries and territories) the IMF updated its original growth forecast for 2020, and the predictions are grim. The world's largest economies – China, the US and the Euro area – are set to experience massive year-on-year contraction. But there's a silver lining: The IMF says that there are signs of a promising economic recovery for these economic regions in 2021. Here's a look at the numbers.

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Trump imposes tariffs, Modi brings gifts

President Donald Trump and Indian Prime Minister Narendra Modi shake hands as they attend a joint press conference at the White House in Washington, DC, on Feb. 13, 2025.
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As promised, US President Donald Trump announced reciprocal tariffs on all American trading partners Thursday afternoon. Each country will be assessed individually, factoring in value-added taxes, foreign tariff rates, industry subsidies, regulations, and currency undervaluation to determine customized duty rates. Trump claimed, “It’s gonna make our country a fortune.”

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Linda McMahon testifies before the Senate Health, Education, and Labor Committee during a nomination hearing as Secretary of Education in Washington, DC, USA, on Feb. 13, 2025.

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Right now, streaming live from Munich: Net Zero for Global Security? Geopolitics of Energy Transition and Hydrogen Trade

BMW Foundation

Join us via free livestream at the Energy Security Hub at BMW Pavilion Herbert Quandt at the Munich Security Conference and watch our panel on “Geopolitics of Energy Transition and Hydrogen Trade” in cooperation with the German Federal Office and H2-Diplo. The global shift to net zero is no longer just an environmental imperative – it’s reshaping international security and geo-economic dynamics. As new clean energy trade routes emerge, major economies are jockeying for clean industry leadership, navigating critical resource dependencies, supply chain resilience, and infrastructure security. Following this panel, starting at 18:30 (CET) / 12:30 (ET), don’t miss the opportunity to watch the closing keynote by William Chueh, director of Precourt Institute for Energy and associate professor of Materials Science and Engineering, Stanford University, on “Energy Transition: Speed & Scale.” For these and other forward-thinking panels and discussions in the next two days, register here.

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