The International Monetary Fund (IMF) cut its 2025 growth forecasts for major Asian economies, citing trade tensions and global economic uncertainties as key factors. Specifically, the IMF lowered its 2025 growth projections for China to 4.

"If sustained, this abrupt increase in tariffs and attendant uncertainty will significantly slow global growth," the IMF wrote.

On a global basis, growth was lowered from 3.3% to 2.8% for the whole of 2025, with the IMF saying that tariffs were “a major negative shock to growth.”