Headlines 

Trade Wars Are Bad and Hard to Win, U.K. Tells Trump

The U.K. has “deep concern” about the U.S. plan to slap tariffs on steel and aluminum imports, and negotiated accords are better, Prime Minister Theresa May told President Donald Trump. The two leaders spoke Sunday by telephone, with May saying “multilateral action was the only way to resolve the problem of global overcapacity in all parties’ interests,” according to a spokesman for the prime minister. Trump’s vow that trade wars are good and are easy to win also drew a rebuke from one of May’s most senior ministers, who said…

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Headlines 

IMF Says Global Growth Picking Up as U.S. Tax Cuts Take Hold

The International Monetary Fund warned policymakers to be on guard for the next recession even as it predicted global growth will accelerate to the fastest pace in seven years as U.S. tax cuts spur businesses to invest. The fund raised its forecast for world expansion to 3.9 percent this year and next, up 0.2 percentage point both years from its projection in October. That would be the fastest rate since 2011, when the world was bouncing back from the financial crisis. The strengthening recovery offers a “perfect opportunity now for…

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