Articles tagged with “imfforecast”

The International Monetary Fund warned Tuesday that President Donald Trump's tariff policies and retaliatory measures from trading partners could severely impact global economies, with the US facing significant damage. Global growth is projected to slow to 2.8% this year, down from 3.3% in 2023, marking a sharp decline below historical averages. The US economy is expected to grow just 1.8% in 2025, a steep drop from 2.8% in 2024. These forecasts are gloomier than January's estimates, reflecting the effects of recent tariff hikes pushing import taxes to century high levels.