The Organisation for Economic Co-operation and Development (OECD) predicted on Monday that global growth will experience a deceleration due to rising “trade barriers” and amplified “geopolitical and policy uncertainty.”

The OECD’s forecast indicates that growth will decrease to 3.1% in 2025 and further to 3.0% in 2026. These estimates represent a reduction from the previously anticipated 3.3% for both this year and the next. The adjustments are chiefly attributed to the weaker anticipated growth in both the United States and the eurozone.

OECD Secretary-General Mathias Cormann remarked, “The imposition of further trade restrictions is set to raise the costs of both production and consumption. Maintaining an efficient, rule-based international trading system and keeping markets open remains crucial.”

Stay tuned for further updates.

Source: https://www.dw.com/en/oecd-warns-of-slowing-global-growth-amid-trade-wars/a-71941762?maca=en-rss-en-all-1573-rdf