The International Monetary Fund on Tuesday slashed its growth forecasts for the United States, China and most countries, citing the impact of U.S. tariffs now at 100-year highs and warning that rising trade tensions would further slow growth.

On a global basis, growth was lowered from 3.3% to 2.8% for the whole of 2025, with the IMF saying that tariffs were “a major negative shock to growth.”