In addition to raising its growth prediction for the UK economy this year, the International Monetary Fund (IMF) has issued a warning about the potential effects of Donald Trump’s economic policies.
The international organization raised its forecast for UK growth from 1.5% to 1.6% for this year.
However, it stated that incoming US President Trump’s threatened wave of tariffs might worsen trade tensions, discourage investment, and cause supply chain disruptions worldwide.
The IMF added that while deregulation, tax cuts, and tariffs can temporarily strengthen the US economy, they might have the opposite effect.
Many world leaders are worried about the possibility of increased import tariffs in the US since they will increase the cost of doing business.
