The International Monetary Fund has cut its U.S. growth forecast for next year, warning that President Trump’s protectionist trade policies will harm growth domestically and around the world.
In its World Economic Outlook, released Monday evening, the IMF says the U.S. economy is expected to grow 2.9 percent this year and 2.5 percent next year. The organization had forecast in April that the U.S. economy would grow 2.7 percent in 2019.
“If you have the world’s two largest economies at odds, that’s a situation in which everyone is going to suffer,” said Maurice Obstfeld, chief economist at the IMF.
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