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Trump’s Tariffs Restrain the Global Economy
The International Monetary Fund (IMF) forecasted on Tuesday that the tariffs imposed by U.S. President Donald Trump and the retaliatory measures taken in response will have a significant impact on the global economy this year, indicating an anticipated slowdown in growth.
The Washington-based institution has been cautious in its latest forecasts due to the “complexity of the current phase and its rapid changes.” Nonetheless, it projected that global growth will reach 2.8% this year; a downward adjustment of about 0.5 percentage points compared to its previous estimates in January.
