The IMF projects the U.S.'s overall federal deficit will dip to 6.5% of gross domestic product this year, down from 7.3% in 2024 The multinational fund cited higher tariff revenues for the decline The IMF highlighted uncertainty surrounding the rollout of higher tariffs and potential revenue increases The International Monetary Fund forecasts U.

The International Monetary Fund on Tuesday slashed its growth forecasts for the United States, China and most countries, citing the impact of U.S. tariffs now at 100-year highs and warning that rising trade tensions would further slow growth.

Trump’s tariffs are forecast to slow the global economy sharply this year, the International Monetary Fund said.