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Trump tariffs will hurt global growth, OECD warns

2025-06-03 17:00:04

Global economic growth is set to be slower this year largely because of Donald Trump's US tariffs, according to a leading international policy group.

Worldwide growth is now expected to slow to a "modest" 2.9%, down from a previous forecast of 3.1%, said the Organization for Economic Co-operation and Development (OECD).

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

That will include the UK, the OECD said, as it trimmed the country's growth forecasts. But it added Britain was facing its own challenges and should consider raising tax revenues as a means of "strengthening the public finances".