OECD Forecasts Slower Economic Growth Worldwide Due to Trump Tariffs

A leading international policy group says global economic growth is set to be slower this year largely because of Donald Trump’s US tariffs.

The Organization for Economic Co-operation and Development, OECD, says worldwide growth is now expected to slow to a modest 2.9 per cent, down from a previous forecast of 3.1 per cent.

It blamed a significant rise in trade barriers for the downgrade and warned that weakened economic prospects will be felt around the world, with almost no exception.

Since Trump returned to the White House, a long list of countries have been targeted by tariffs, but Trump’s unpredictable approach to implementing the measures has created widespread uncertainty.