President Donald Trump’s unpredictable tariff policy and countermeasures by America’s trading partners will likely deal a heavy blow to economies worldwide, with US prosperity hit particularly hard, the International Monetary Fund warned Tuesday.

President Donald Trump’s trade war is threatening the global financial stability that’s kept banks and insurers safe since the 2008 crisis, the International Monetary Fund warned, as it urged policymakers to bolster their industries’ defenses.

The International Monetary Fund says the US and global economies will likely slow significantly in the wake of President Donald Trump’s tariffs and the uncertainty they have created.