World Bank Forecasts Global Decline Because Trump

The New York Times reports:

The global economy is projected to slow sharply this year as President Trump’s trade policy disrupts international commerce and increases economic uncertainty, the World Bank said on Tuesday in a report that underscores the toll of America’s trade war. The trade tension is setting the stage for the weakest decade of growth since the 1960s. Economic development in many of the poorest parts of the world has come to a standstill.

Expansion in global output is forecast to slow to 2.3 percent in 2025 from 2.8 percent last year, the World Bank said in its Global Economic Prospects report. That is down from the 2.7 percent growth that it forecast in January. “The world economy today is once more running into turbulence,” Indermit Gill, chief economist of the World Bank, wrote in the report. “Without a swift course correction, the harm to living standards could be deep.”

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New World Bank forecast underscores cost of U.S. trade war as output set to decline sharply.https://t.co/fXNCIaXcmE

— Alan Rappeport (@arappeport) June 10, 2025