The International Monetary Fund released its world economic outlook which cut the economic growth forecast for the U.S. due to trade tensions and policy uncertainty.

The International Monetary Fund on Tuesday slashed its growth forecasts for the United States, China and most countries, citing the impact of U.S. tariffs now at 100-year highs and warning that rising trade tensions would further slow growth.

The International Monetary Fund predicts "significantly slower" economic growth on a global scale than what it predicted in January of this year, saying tariffs and the trade war are causing too much economic uncertainty.