Fitch Ratings said on Wednesday it does not expect the ongoing US government shutdown to affect the country’s sovereign ratings in the near term. The impact on economic growth would depend on the shutdown’s scope and duration. Fitch expects the general government deficit to narrow to 6.8% of GDP in 2025, down from 7.7% in 2024, partly due to a surge in tariff revenues, which it now sees reaching $300 billion. Separately, S&P Global Ratings said government shutdowns generally have only a marginal effect on the broader economy and are not considered credit events for the US sovereign rating. However, it warned that secondary effects can build up over time, as furloughed workers cut spending and delays in key economic data increase uncertainty for the Federal Reserve. S&P Global estimated that the shutdown could trim GDP growth by 0.1% to 0.2% for every week the government remains closed.