The International Monetary Fund (IMF) has projected a slowdown in global economic growth as a consequence of President Trump's trade war, which has created considerable uncertainty in the market. This uncertainty is significantly affecting U.S. economic forecasts, leading to anticipated slower growth and rising inflation. The IMF has downgraded its growth predictions for not only the U.S. but also for China and Europe, indicating a broader, systemic impact on global output. The organization forecasts a decline in global output from 3.3 percent in 2024 to 2.8 percent this year.
The global economic system that has operated for the past 80 years is being reset, the I.M.F.'s chief economist said.
The gloomier outlook stems in large part from the impact of tariffs on the U.S. economy, which is expected to see slower growth and higher inflation.
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