OECD Warns Trump Tariffs Damage US and Global Economies

The OECD warns that US tariffs imposed by Donald Trump are slowing global economic growth, which is now forecasted at 2.9% for the year, down from 3.1%. The report highlights increased trade barriers and economic uncertainty affecting countries including the UK and US, with the latter experiencing a contraction in early 2023. The UK faces challenges from trade tensions and high government debt, prompting calls for tax reforms and fiscal tightening. Overall, the OECD predicts a slowdown in growth and job creation worldwide due to trade conflicts and policy uncertainties.