U.S. President Donald Trump’s trade wars are expected to weigh on global economic growth, the Organisation for Economic Co-operation and Development (OECD) said. The Paris-based institution lowered its global GDP growth forecast for this year to 3.1%, down 0.2 percentage points from its earlier projection in December. “Global GDP growth is expected to moderate from...
Category: global economy
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OECD Warns: Trump’s Tariffs Threaten China’s Economy and Global Trade Growth
The Chinese economy is expected to expand by 4.8% this year, experiencing reduced demand across various sectors and areas. The Organization for Economic Co-operation and Development stated on Monday that China’s economy is expected to decelerate even more due to the new tariffs introduced by U.S. President Donald Trump, which will have worldwide implications. The...
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OECD Sounds Alarm on Global Growth as Trade Wars Intensify
The primary economic group reduced its prediction for worldwide economic expansion because of trade disputes initiated by Donald Trump’s tariffs. They cautioned that circumstances might deteriorate further. The OECD stated on Monday that global economic expansion is anticipated to decelerate as a result of “trade barriers” and an increase in “geopolitical and policy uncertainties.” It...