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By CHRISTOPHER RUGABER, Associated Press Economics Writer

WASHINGTON (AP) — The U.S. and global economies will likely slow significantly in the wake of President Donald Trump’s tariffs and the uncertainty they have created, the International Monetary Fund said Tuesday.

The IMF said that the global economy will grow just 2.8% this year, down from its forecast in January of 3.3%, according to its latest World Economic Outlook. And in 2026, global growth will be 3%, the fund predicts, also below its previous 3.3% estimate.

And the Fund sees the world’s two largest economies, China and the United States, weakening: U.S. economic growth will come in at just 1.8% this year, down sharply from its previous forecast of 2.7% and a full percentage point below its 2024 expansion. The IMF doesn’t expect a U.S. recession, though it has raised its odds of one this year from 25% to about 40%.

China is now projected to expand 4% this year and next, down roughly half a point from its previous forecasts. read more

Pharmacy giant Walgreens has reached a $300 million settlement with the U.S. Department of Justice over allegations it filled millions of invalid opioid and other drug prescriptions during the height of the nation’s opioid epidemic.

The lawsuit filed against Walgreens involved multiple agencies and prosecutors from across the country, including in Florida.

“Pharmacies have a legal responsibility to prescribe controlled substances in a safe and professional manner, not dispense dangerous drugs just for profit,” U.S. Attorney General Pam Bondi said in a DOJ news release announcing the settlement Monday. “This Department of Justice is committed to ending the opioid crisis and holding bad actors accountable for their failure to protect patients from addiction.”

In its lawsuit, the justice department alleged Walgreens filled the invalid prescriptions between August 2012 and March 2023 — even after previously acknowledging that it failed to comply with the Controlled Substances Act and reaching a settlement with the DOJ and the Drug Enforcement Administration in 2013, according to court records. read more

By DEE-ANN DURBIN

Chipotle Mexican Grill is coming to Mexico.

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The California-based chain said Monday it’s planning to open a restaurant in Mexico early next year, its first location south of the border in its 30-year history.

Chipotle is partnering with Alsea in Mexico City, a company that operates Domino’s, Starbucks, Burger King, Chili’s and other brands in South America and Europe. Alsea plans to explore additional expansion in Mexico and other locations in the region.

Nate Lawton, Chipotle’s chief business development officer, said the company is confident that its menu will resonate with Mexican diners. read more

By DEE-ANN DURBIN

The U.S. Federal Trade Commission filed a lawsuit against Uber on Monday, alleging that it enrolled consumers in its Uber One subscription program without their consent and made it too difficult for them to cancel the service.

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Uber One members pay $9.99 per month or $96 per year for a range of services, including fee-free Uber Eats food deliveries and cash back when they take Uber rides.

In its lawsuit, the FTC said multiple customers complained that Uber signed them up for Uber One without their permission or charged them for the service before a free trial period was over. In at least one case, a person was charged $9.99 per month even though they didn’t have an Uber account, the lawsuit said. read more

By Rick VanderKnyff, NerdWallet

My wife and I bought a new car last month.

It turns out we were not alone. That was made apparent by the crowds at the dealership where we bought our hybrid hatchback on March 30, and confirmed by a new report on retail sales figures for March.

Advance estimates of March retail sales released today by the U.S. Census Bureau showed sales of motor vehicles and parts up 5.3% in March over the previous month, compared to a 1.6% decline in February. When looking back to March 2024, car sales were up a whopping 8.8% year over year.

Overall, retail sales were up 1.4% over February — the largest month-over-month rise in more than two years, according to Reuters, and above expectations for the month. In addition to cars, categories that saw month-over-month growth include building materials (up 3.3%) and a grouping that includes sporting goods, hobbies, musical instruments and bookstores (up 2.4%).

Typically, economists would applaud numbers like this as signs of a healthy economy, but in this case the consensus is that March is a one-time splurge with rockier seas ahead. read more