Trump tariffs fuel forecast of worst global growth for six years
- The global economy is expected to grow at its slowest pace in six years, with a forecast growth rate of 2.7% in 2025, according to the World Bank.
- Trade tariffs threatened by President-elect Donald Trump could have worldwide economic consequences, making it more expensive for companies to sell goods in the US.
- The World Bank warns that escalating trade tensions and higher interest rates could harm business confidence and investment.
- The World Bank stated that a 10% increase in US tariffs could reduce global economic growth by 0.2% if countries do not retaliate, potentially leading to greater impacts if they do.
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