July 29 (UPI) -- The International Monetary Fund said Monday that global economic growth will be better than expected despite a slowdown in the U.S. economy over fluctuating tariffs imposed by President Donald Trump.
The U.S.-based IMF's world outlook projects global growth to jump in 2026 to 3.1% from 3% this year in an "upward revision" from April's World Economic Outlook.
"This reflects front-loading ahead of tariffs, lower effective tariff rates, better financial conditions and fiscal expansion in some major jurisdictions," IMF officials wrote in the economic outlook update report.
IMF Chief Economist Pierre-Olivier Gourinchas said the United States had only "partly reversed course" in lowering its effective tariff rates to about 17% from 24%.
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