The IMF took a slightly more optimistic view of the economic fallout from the highest U.S. tariffs in more than a century, slashing growth forecasts for most countries in its World Economic Outlook but stopping far short of predicting recessions - even for the U.S. and export-dependent China, which now faces U.S. tariffs of 145% on many goods.

The next meetings of the World Bank and IMF will be held in October, but expectations are high, and experts are waiting with bated breath amid the tensions generated by the trade war.

The spring meetings of the International Monetary Fund and World Bank begin this week with a goal of keeping a low profile, since President Donald Trump is not a fan.