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U.S. Slumps to 10th Spot in World Competitiveness Rankings

  • Trade war hurts U.S., which fell seven places on IMD’s ranking
  • Singapore leads the list, while U.K. climbs to 19th spot
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Photographer: Gabby Jones/Bloomberg

The U.S. tumbled further in a ranking of most competitive world economies, dragged down by the weight of President Donald Trump’s trade wars.

After losing the top spot to Singapore in 2018, the U.S. dropped further down the list to 10th place from third, according to an annual ranking from the Institute for Management Development, a business school based in Lausanne, Switzerland. Singapore was the most competitive economy for the second year in a row, followed by Denmark and Switzerland.