Tuesday, April 22, 2025

Wednesday Briefing: A downgrade in global growth

Plus, the next big thing from Japan.
Morning Briefing: Europe Edition

April 23, 2025

Good morning. We're covering a downgrade in the global growth forecast and plans for the pope's funeral.

Plus, the next big thing from Japan.

A red container ship viewed from the bow in a port under a row of cranes and a blue sky.
Steep tariffs on U.S. trading partners have left businesses paralyzed by uncertainty. Maggie Shannon for The New York Times

The latest global economic forecast: storms ahead

President Trump's trade war is expected to slow economic growth across the globe this year, the International Monetary Fund said yesterday in a major report.

The gloomier outlook stems in large part from the impact of tariffs on the U.S. economy, which is expected to see slower growth and higher inflation. Growth forecasts for China and Europe were also lowered.

The I.M.F. forecasts that global output will slow to 2.8 percent this year from 3.3 percent in 2024. It also expects output to be slower next year.

Quotable: "The global economic system that has operated for the past 80 years is being reset," the I.M.F.'s chief economist said. The surge in uncertainty related to trade policy but also more broadly is a major driver of the economic outlook, he said.

New world order: Finance ministers and other policymakers are in Washington this week for meetings of the I.M.F. and the World Bank, which are under pressure to prove their relevance to the Trump administration.

More on Trump

A large building with a casket and guards standing next to it.
A photo released by the Vatican showed Pope Francis' remains in the Chapel of Santa Marta in the Vatican on Monday. The Vatican

A carefully choreographed farewell begins

Pope Francis' coffin will be taken in a procession today to St. Peter's Basilica, where it will lie in state for about three days. Mourners will be able to attend the public viewing of his body before his funeral on Saturday.

The funeral will feature simpler rituals than those followed for past popes, in keeping with the informal style that became a trademark of Francis' papacy. President Trump, Prime Minister Keir Starmer of Britain and President Emmanuel Macron of France are among the world leaders expected to attend the funeral in front of St. Peter's. Here's what to know about the funeral arrangements.

Conclave: After the funeral, 135 cardinals will gather to elect a new pope. Take a look at this visual timeline.

Grief at home: As Argentines bid farewell to Francis, their grief has been deepened by confusion over why he never returned.

A voice for the voiceless: As democratic values were being turned upside down, the pope was a consistent moral guidepost. Who can play that role now?

A soldier prepares to fire a howitzer.
Ukrainian soldiers on the front line in February. Tyler Hicks/The New York Times

Rubio won't attend the next round of Ukraine talks

Secretary of State Marco Rubio decided yesterday to skip the next stage of the Ukrainian cease-fire talks. Ukraine also rebuffed any deal that would recognize Russia's occupation of Crimea, one of President Trump's key proposals for a deal that would halt the fighting.

The back-to-back developments are a double blow, raising fresh questions about how much progress is being made toward winding down the war.

What's next: Negotiators from the U.S., Europe and Ukraine will still meet in London today to continue hammering out a cease-fire proposal.

MORE TOP NEWS

A vehicle with soldiers standing in it is on a road beside market stalls. A man wearing a cap passes in the foreground.
A patrol of Indian security officers in south Kashmir yesterday.  Dar Yasin/Associated Press

SPORTS NEWS

MORNING READ

A uniformed police officer talking to a man in a tracksuit leaning against a van and trailer carrying straw bales.
Tom Geary's farm in Wiltshire, England.  James Hill for The New York Times

In England, rural crime is on the rise, and farms have become a target. Gangs use drones and other technology to pinpoint machinery and parts, sometimes moving the goods abroad. The National Farmers' Union described the communities as "under siege from rising crime."

Lives lived: Aliza Magen, who was the highest-ranking woman in the Mossad's history, serving as deputy, died at 87.

CONVERSATION STARTERS

Three pianos onstage in a curvaceous music hall.
Amir Hamja for The New York Times

ARTS AND IDEAS

An animated video of a Japanese puppet show.
Illustration by Ilya Milstein. Animation by Jonathan Eden

The next big thing from Japan

Denim, whiskey, sushi — Japan may not have invented them, but the country is front of mind when they come up. So what's next for Japan?

Chefs, designers and artists weighed in to predict the new obsessions in a special edition of T Magazine that aims to unpack Japan's cultural influence. Explore the series.

RECOMMENDATIONS

Top down view of chicken Florentine.
Christopher Testani for The New York Times

Cook: The highlight of this chicken Florentine recipe is the buttery white-wine sauce.

Watch: The characters in the new season of "Andor" tell their own story about power.

Read: "Matriarch" explores the trials and triumphs of Tina Knowles, Beyoncé's mother.

Travel: Here's what to know about visiting national parks in the U.S.

Consider: Experts say gum chewing can affect the body in positive and negative ways.

Play the Spelling Bee. And here are today's Mini Crossword and Wordle. You can find all our puzzles here.

That's it for today's briefing. See you tomorrow. — Justin

Reach Justin and the team at briefing@nytimes.com.

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