IMF positive after trade deals, tariff cuts

The International Monetary Fund said on Thursday that its next global growth forecast in July will take into account both positive and negative trade developments but declined to predict a tariff-driven GDP downgrade similar to that released by the World Bank this week.

IMF spokesperson Julie Kozack said that since the last release of the Fund's World Economic Outlook in April, there have been some positive developments that could support improved economic activity, including a major tariff reduction between the US and China and an initial trade deal between the US and Britain.

"So taken together such announcements combined with the April 9 pause on the high level of tariffs, these could support activity relative to the forecast that we had in April," Kozack told a regular IMF news briefing.

"But nonetheless, we do have an outlook for the global economy that remains subject to heightened uncertainty, especially as trade negotiations continue."