An economic slowdown induced by the U.S. tariffs will drag down most of the world's major economies, the International Monetary Fund predicts.
The big picture: The U.S. propelled global economic growth for years. Now it's acting as a disruptor to the world economy, Axios Macro co-authors Neil Irwin and Courtenay Brown write.
💰 What they're saying: The U.S. economy is on track to grow 1.8% in 2025, slowing by a full percentage point from last year, the IMF's quarterly outlook says.
That's a sharp downgrade from what the IMF expected at the start of the year:
🤝 The latest: The White House today signaled trade tensions with China could soon cool.
"The president and the administration are setting the stage for a deal with China," Press Secretary Karoline Leavitt said. "Everyone involved wants to see a trade deal happen and the ball is moving in the right direction."
