The International Monetary Fund projects sluggish growth for the U.S. economy this year due to an escalating trade war, reinforcing economists’ warnings about the negative repercussions of President Trump’s tariffs.
The U.S. economy will grow 1.8% this year, the IMF said in its World Economic Outlook, down .9% from January and a full percentage point from last year’s projection. The global institution does not expect the U.S. to dip into a recession, but said the odds now have risen from 25% to 37%.
The IMF also slashed the growth forecast for the global economy to 2.8% this year, down from 3.3% in January.
— This is a breaking story and will be updated.
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