India, April 22 -- The International Monetary Fund slashed the global growth forecasts for this year and next on Tuesday, citing the potential impact of the trade tariffs imposed by U.S. President Donald Trump and cautioned against significant adverse effect on the world economy if the current trade tensions persist.
Global economy is set to grow 2.8 percent this year and 3.0 percent next year, the IMF said in its latest World Economic Outlook report. That is significantly less than the 3.3 percent expansion that the lender projected for both years in January.
The forecast includes tariff announcements between February 1 and April 4 by the U.S. and countermeasures by other countries, the IMF said. The world economy is projected to grow at...