The global debt situation is raising alarms for the International Monetary Fund, which on Wednesday said “off-the-charts” trade uncertainty was exacerbating a global debt load that it estimates crossed the $100 trillion level in 2024.

Economic pressures from steep new U.S. tariffs will push global public debt above pandemic-era levels to nearly 100% of global GDP by the end of the decade as slower growth and trade strain government budgets,