UK economy will be among hardest hit by global trade war, IMF warns

Britain’s economy will be among the hardest hit by the global trade war and inflation is set to climb, the International Monetary Fund (IMF) has warned - as it slashed its UK growth forecast by a third. In a sobering set of projections, the Washington-based organisation said it was grappling with “extremely high levels of policy uncertainty” – and the global economy would slow even if countries manage to negotiate a permanent reduction in tariffs from the US. Echoing earlier warnings about the risks to the global financial system, the IMF said stock markets could fall even more sharply than…