OECD: Trump's Trade Policy Hurt the Global Economy.


The Organization for Economic Cooperation and Development (OECD) reported that the aggressive trade policy of U.S. President Donald Trump has led to a decline in the global economy, but the United States itself has suffered the most.
The OECD has significantly lowered its global forecasts twice this year due to the tariffs imposed by the U.S. government. They noted that the combination of trade barriers and uncertainty undermines trust and restrains investment, which can lead to inflationary pressure.
It is forecasted that the growth rate of the global economy will slow to 2.9% this year, while for the U.S. it will only be 1.6%. The OECD emphasized that Trump's policy has posed a serious challenge to the global economy and requires complex solutions.
The organization called for agreements to ease trade tensions and reduce barriers in order to avoid further economic decline. The forecast highlights the impact of U.S. trade policy on the global economy and the need for coordinated actions to mitigate the effects of the trade war.
The OECD's message indicates the negative impact of the aggressive U.S. trade policy on the global economy. They call for agreements to resolve trade conflicts and strengthen economic stability.
Read also
- Cash remains popular — NBU names the most common banknote
- Salt with History — Ukraine to Restore a Millennium-Old Deposit
- For the first time in Poland's history — what find will make the country wealthier
- Steel transshipment has resumed at the port in Odesa region — what will it bring
- A New Word in the Energy Industry - Where a Natural Hydrogen Source Was Found
- Ukrainians are profitably selling scrap metal in July — what is the price for 1 kg of scrap