Washington D.C. - The global economy is facing headwinds, largely due to trade barriers enacted during the Trump administration, according to a new report. A prominent policy group has lowered its forecast for global growth, citing the negative impact of tariffs imposed by the United States on various goods. These tariffs, initially intended to protect domestic industries, are now seen as contributing to a slowdown in international trade and investment.
Economists warn that the tariffs are disrupting global supply chains, making it more expensive for businesses to operate and consumers to purchase goods. The policy group's revised forecast reflects growing concerns about the long-term consequences of these trade barriers. While some sectors may initially benefit from protectionist measures, the overall impact is expected to be detrimental to global economic growth.
The report suggests that a resolution to the trade disputes is crucial to restoring confidence and boosting economic activity. However, with no immediate end in sight, the global economy faces a period of uncertainty and slower growth.
Trump-Era Tariffs Continue to Slow Global Economic Growth
A leading policy organization has reduced its global economic forecast, citing ongoing trade barriers put in place during the Trump administration. These tariffs, primarily imposed by the United States, are impacting international trade and investment. Economists predict a ripple effect across various sectors, leading to slower expansion. The revised forecast reflects concerns about the continued trade tensions and their potential to disrupt supply chains.
Source: Read the original article at BBC