Global growth outlook cut sharply by IMF due to Trump’s tariff policies

The International Monetary Fund yesterday slashed its forecast for global growth this year, citing the effect of US President Donald Trump’s new tariff policies on the world economy.

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The IMF’s projections, which incorporate some but not all tariff measures introduced this year, see the global economy growing by 2.8 per cent this year, 0.5 percentage points lower than the previous World Economic Outlook (WEO) forecast in January.

Global growth is then forecast to hit 3.0 per cent next year, down 0.3 percentage points from January.

Global economy set for reset