Try GOLD - Free
IMF updates growth forecast as Trump's tariff wars ease
The Guardian
|July 30, 2025
Global growth will be stronger than previously expected this year after Donald Trump scaled back his most extreme tariff threats, the International Monetary Fund said as it upgraded the economic outlook for 2025.
The Washington-based organisation said a "de-escalation in tariffs" had spurred a recovery in global trade and a broader economic expansion, though US policies remain "highly uncertain" and risks to growth remain "firmly on the downside".
The IMF chief economist, Pierre-Olivier Gourinchas, upgraded a forecast for global growth in 2025 to 3% from an estimate in April of 2.8%. The outlook for 2026 was upgraded from 3% to 3.1%. The global economy grew by 3.3% in 2024.
Most regions benefited from the more benign outlook, including Britain, which is expected to grow by 1.2% this year - 0.1 percentage points higher than in the IMF's April outlook.
This story is from the July 30, 2025 edition of The Guardian.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 9,500+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM The Guardian
The Guardian
Whitehall 'needs to stop talent leaving fast stream'
The civil service's fast stream needs urgent reform as many graduates are leaving before the end of the scheme amid dissatisfaction with pay and progression, according to a report.
2 mins
September 04, 2025
The Guardian
Rayner in peril after admitting she underpaid stamp duty on flat
Starmer gives backing to deputy PM as she refers herself to ethics adviser
4 mins
September 04, 2025
The Guardian
We shouldn't be policing culture wars, says Met
Sir Mark Rowley, the Metropolitan police commissioner, said yesterday that officers should not be \"policing toxic culture war debates\" as the comedy writer Graham Linehan vowed to sue after his arrest over social media posts.
3 mins
September 04, 2025
The Guardian
Spence says proving Warnock and Conte wrong feels good
Defender aiming to prove doubters wrong and be first Muslim to play for England
2 mins
September 04, 2025
The Guardian
Chinese president says world faces 'peace or war' as gigantic military parade rolls past
Immortal words Leaders aim to live for ever
4 mins
September 04, 2025
The Guardian
North Korea Daughter may be preferred successor
The appearance of Kim Jong-un's daughter in China ahead of Xi Jinping's \"victory day\" parade in Beijing has added to speculation that she is being groomed to become the first female ruler of North Korea.
1 min
September 04, 2025
The Guardian
Scrapping benefit cap would 'lift millions out of poverty'
A cross-party commission including former welfare ministers is urging the government to scrap the two-child benefit limit as part of an ambitious \"once in a generation\" plan to lift millions of people out of poverty.
3 mins
September 04, 2025
The Guardian
US sends Russian asylum seekers back to Moscow
US authorities have deported dozens of Russian asylum seekers to Moscow, including a serviceman wanted for desertion who has since been detained, the Guardian can reveal.
4 mins
September 04, 2025
The Guardian
Closer alliance Putin invites Kim to meet in Moscow
Vladimir Putin invited Kim Jong-un to visit Russia during a lengthy meeting in Beijing yesterday, as Kim promised to do \"everything possible to help\" Moscow.
2 mins
September 04, 2025
The Guardian
'An obvious flaw' FA criticised over errors in Paquetá spot-fixing case
The Football Association has been criticised strongly by the regulatory commission that cleared Lucas Paquetá of spot-fixing charges, over its failure to provide an independent assessment of the betting data on the West Ham player receiving yellow cards.
2 mins
September 04, 2025
Listen
Translate
Change font size