Global Growth Forecast Amid Tariff Tensions: IMF's July Update

The International Monetary Fund (IMF) announced on Thursday that its upcoming global growth forecast, scheduled for July, will reflect a balance of positive and negative trade developments. While not anticipating a tariff-induced GDP downgrade similar to the World Bank's latest predictions, the IMF recognizes the impact of recent U.S. trade negotiations.

Julie Kozack, an IMF spokesperson, highlighted positive developments since April's World Economic Outlook, such as major tariff reductions between the U.S. and China and a preliminary trade deal with Britain. However, the global economy remains uncertain as trade negotiations continue, compounded by the recent increase in U.S. tariffs on steel and aluminum.

The IMF plans to release an updated World Economic Outlook by the end of July, factoring in recent economic activities and trade dynamics. Despite some positive signals, the international economic scene continues to face challenges from the complexity of trade deals and ongoing tariff negotiations involving multiple countries.

(With inputs from agencies.)