The International Monetary Fund says US tariffs and market uncertainty will lead to a significant worldwide slowdown.

"If sustained, this abrupt increase in tariffs and attendant uncertainty will significantly slow global growth," the IMF wrote.

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.