The International Monetary Fund (IMF) has raised its forecast for global growth in 2025 by 0.1%, with stronger-than-expected growth in the US offsetting downward revisions in Germany, France, and other major economies. The IMF warned against protectionist measures, such as tariffs and subsidies, that could harm trading partners and lead to retaliation. The IMF also cautioned against excessive deregulation in the financial sector, which could have negative consequences for the US and the rest of the world. The IMF raised its growth forecast for the US to 2.7% based on robust labor markets and accelerating investment, while cutting its forecast for the euro area due to weaker-than-expected momentum in manufacturing and heightened political and policy uncertainty. Germany's economy is forecast to grow just 0.3% in 2025, while France's forecast was cut to 0.8% for the same year.