The U.S. economy will grow 1.8% this year, the IMF said in its World Economic Outlook, down .9% from January and a full percentage point from last year's projection. The global institution does not expect the U.S. to dip into a recession, but said the odds now have risen from 25% to 37%.

The outlooks for the U.S. and global economies have significantly worsened in the wake of President Donald Trump's tariffs and the uncertainty they have created, the International Monetary Fund said Tuesday.

The International Monetary Fund expects slower growth and higher inflation in the U.S. as a result of President Trump’s trade policies.