The World Bank cut its 2025 growth forecast from 2.7% to 2.3%, citing tariffs and trade disputes as the key drivers behind reduced economic expansion. Nearly 70% of countries, including major economies like the U.S., China, and Europe, had their projections lowered. The bank warned that heightened uncertainty continues to suppress investment and confidence. Additionally, the IMF announced its July World Economic Outlook will incorporate the latest trade shifts: China–U.S. tariff pacts, U.K.–U.S. agreement, and fresh U.S. steel & aluminum tariffs at 50%. Previous forecasts were cut to 2.8% in April, in line with World Bank data. The update, due late July, aims to reflect evolving trade dynamics and their economic risk.