IMF managing director Christine Lagarde has warned the global economy is facing an economic slowdown triggered by rising trade protectionism and soaring levels of debt.

In a speech in Washington on Monday, she dropped the broadest possible hint that the IMF would cut its global growth forecast when it unveils its latest health check on the world economy next week.

Meanwhile Donald Trump declared the United States-Mexico-Canada Agreement (USMCA) – the new name for the world’s second-biggest economic bloc behind the European Union – a “wonderful new trade deal”.