U.S. and global economic outlook deteriorates in Trump trade war, IMF says

And the Fund sees the world's two largest economies, China and the United States, weakening: U.S. economic growth will come in at just 1.8% this year, down sharply from its previous forecast of 2.7% and a full percentage point below its 2024 expansion. The IMF expects the tariffs to take a big chunk out of China's economy, but it also forecasts that additional spending by the Chinese government will offset much of the hit. The economies of the 27 countries that use the euro are forecast to expand 0.8% this year and 1.2% next year, down just 0.2% in both years from the IMF’s January forecast.