Christine Lagarde

IMF: Tax cuts boosting US now but will hurt growth later

The International Monetary Fund said Thursday that tax cuts will help fuel the U.S. economy this year and next. But it warned that growth after that will slide to levels just half of what the Trump administration is forecasting.

In its annual assessment of the U.S. economy, the 189-nation IMF released a critical report that warned of adverse consequences from a number of administration policies, including its plans to impose punitive tariffs on major U.S. trading partners in an effort to reduce America's huge trade deficits.

IMF Managing Director Christine Lagarde said that a trade war "gives no winner and we find generally losers on both sides."