Trump Tariffs Are Hurting US and Global Economy, OECD Warns
Freight trucks at the Port of Los Angeles.
Photographer: Allen J. Schaben/Los Angeles Times/Getty Images
Donald Trump’s combative trade policies have tipped the world economy into a downturn, with the US among the hardest hit, the OECD said.
The Paris-based organization slashed its global forecasts for the second time this year, citing the impact of the American president’s tariff onslaught. The combination of trade barriers and uncertainty are hitting confidence and holding back investment, it said, while also warning that protectionism is adding to inflationary pressures.