OECD cuts global GDP forecast amid tariff uncertainties, increase in trade barriers
Trade policy under US President Donald Trump is taking a major toll on global growth. The Organisation for Economic Co-operation and Development has cut its GDP forecast for this year and the next to below 3%. It has warned of an even weaker outlook, should it see a further rise in protectionism. The OECD's chief economist also said a "significant increase in trade barriers" and uncertainty caused will lead to "weakened economic prospects" all around the world. Olly Barratt reports from London.
Trade policy under US President Donald Trump is taking a major toll on global growth. The Organisation for Economic Co-operation and Development has cut its GDP forecast for this year and the next to below 3%. It has warned of an even weaker outlook, should it see a further rise in protectionism. The OECD's chief economist also said a "significant increase in trade barriers" and uncertainty caused will lead to "weakened economic prospects" all around the world. Olly Barratt reports from London.
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