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."

Economic growth in the U.S. is forecast to slow to 1.8% in 2025, ninety basis points lower than the IMF’s prediction from January. Global growth is expected to fall to 2.8% in 2025 and 3% in