Fitch lowers U.S. growth forecast for this year from 2.1% to 1.7%

Global credit rating agency Fitch has lowered its growth outlook for the U.S. this year.

In its latest projection made public on Tuesday the agency forecast the U.S. economy would expand one-point-seven percent down from its earlier estimate of two-point-one percent.

It also lowered its outlook for next year to one-point-five percent.

Analysts at the agency are linking their revisions to higher risks of a global trade war owing to the Trump administration's tariff campaign which they add will increase inflation in the U.S.