Trump’s double-barreled tariff plan — a 10 percent tax on nearly everything the United States imports each year plus significantly higher levies on goods from dozens of nations — will hurt the United States and its trading partners, the fund said.
But the slowdown will be particularly sharp for the U.S. economy, which will grow this year at an annual rate of 1.8 percent, one third lower than its January estimate and a full percentage point below last year’s mark, the fund said.
“The landscape has quickly changed,” said Pierre-Olivier Gourinchas, the IMF’s chief economist. “We are entering a new era as the global economic system that has operated for the last 80 years is being reset.”
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