Surging U.S. tariffs will weaken the global economy and push up inflation this year, according to projections to be released next week by the International Monetary Fund.

The head of the International Monetary Fund said Thursday that President Trump's tariffs will cause economies around the globe this year to experience higher inflation and slower growth — but not a recession.

The head of the International Monetary Fund warned that the global economy will slow due to the US-led world trade “reboot,” but a recession isn’t in the forecast.