One of the world’s main number crunchers released its latest economic report on Tuesday. But the middling forecast from the International Monetary Fund doesn’t begin to capture the helter-skelter ride the global economy is on.

Even as the I.M.F. was preparing its report, a flurry of developments were already altering the picture. New U.S. tariffs on imported wood, furniture and kitchen cabinets that are expected to drive up the cost of home building took effect on Tuesday. So did the opening round of higher port entry fees that China and the United States will impose on each other’s vessels.

Tuesday’s turn of the trade wheel was just one click in a series of repercussions set in motion by President Trump’s vow to smash the world’s economic order. More will follow.

Last week, Beijing decided to sharply step up curbs on its export of rare earth metals, materials that are essential for the manufacturing of semiconductors, cellphones, wind turbines and nearly every other modern gadget. New restrictions on equipment needed to produce batteries for electric cars are also scheduled to take effect next month.

Mr. Trump’s initial fury softened over the weekend, after his response led to the sharpest decline in stocks since April, when the president’s initial barrage of tariffs was announced. Still, his threat to slap an additional 100 percent tariff on Chinese imports was left dangling.

We are having trouble retrieving the article content.

Please enable JavaScript in your browser settings.

Thank you for your patience while we verify access.