Russia Oil Ban, China Tariff Review, IMF Warning: Eco Day

(Bloomberg) -- Welcome to Monday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

• The Biden administration is considering whether to prohibit Russian oil imports into the U.S. even without the participation of allies in Europe, at least initially, according to two people familiar with the matter
• The U.S. will soon start a review of the first group of tariffs on more than $300 billion in Chinese imports needed to prevent their expiration, a process likely to bring new scrutiny of their effectiveness as inflation runs at a four-decade high
• Argentina President Alberto Fernandez said he “despises” the International Monetary Fund as he vowed to maintain social spending while facing the country’s obligations with the institution, Infobae reported
• The IMF warns of “severe impact” on global economy from the war
  • Bloomberg Economics highlights three charts from Putin’s war on Ukraine, which they expect will cause GDP to shrink 9% this year
  • Here’s why sapping Russia of oil money is key to making sanctions work
  • A Goldman Sachs Group Inc. analyst warned an escalation of Russia’s conflict with Ukraine could spark “malicious cyber activity” with the potential to inflict significant economic and social costs
• China’s ambitious GDP target could prove a modest boost for a beleaguered global economy
• Finally, here’s what’s to look out for in the world economy this week

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