Increase in tariffs would trigger global economic decline, study finds

IMF chief economist Pierre-Olivier Gourinchas says tariffs are harming everyone.

The IMF predicts that U.S. gross domestic product could fall by 0.4 percent in 2025 and 0.6 percent in 2026 if a "sizeable swath" of global trade is hit with tariffs by mid-2025 .

Given the IMF 's projections, bipartisan support for tariffs could lead to slower economic growth for Americans regardless of who wins in November .