Lender cuts forecasts for every major economy, with UK expected to grow by 1.1% this year, down from 1.6%
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Donald Trump’s tariffs have unleashed a “major negative shock” into the world economy, the International Monetary Fund has said, as it cut its forecasts for US, UK and global growth.
In a stark assessment of the impact of the US president’s policies, as global finance ministers prepare to meet in Washington, the IMF said: “We expect that the sharp increase on 2 April in both tariffs and uncertainty will lead to a significant slowdown in global growth in the near term.”
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