The International Monetary Fund predicts global growth to be just over 3% this year which would be tied for the lowest since the financial crisis.
The IMF released the forecast Tuesday predicting this year’s global growth to be measured at 3.3%.
The predictions are 0.2% less than the IMF forecasted in January when it predicted it to be 3.5%.
The IMF cited Brexit negotiations and U.S. China trade talks as reason for the downgrade as uncertainty across global markets continues to mount.
The predictions suggested the growth will stabilize while world trade growth is expected to drop to 3.4% compared to the previously predicted 4%.