The U.S. and global economies will grow a bit more this year than previously forecast as the Trump administration’s tariffs have so far proved less disruptive than expected, the International Monetary Fund said Tuesday, though the full impact of those policies is still emerging.

Surging U.S. tariffs will weaken the global economy and push up inflation this year, according to projections to be released next week by the International Monetary Fund.

The International Monetary Fund expects the world economy to grow a little faster and inflation to keep falling this year.