Trump's Tariffs Hit Harder Than Expected as OECD Slashes U.S. Growth Forecast

"The forecast indicates that the United States GDP will sharply decline, plummeting from 2.8% growth last year to 1.6% in 2025 and 1.5% in 2026."

"OECD Secretary-General Mathias Cormann emphasized the need for constructive dialogue among governments to maintain open markets and support sustained economic growth."

The OECD's latest report warns that President Trump's tariff policies are leading to a sharp anticipated slowdown in U.S. economic growth, with GDP projected to decline significantly over the next two years. While the U.S. economy recorded a growth rate of 2.8% last year, it is expected to decrease to 1.6% in 2025 and further to 1.5% in 2026. Global growth is also projected to slow, dropping below the 3% growth threshold. OECD officials have highlighted the necessity for international dialogue to address the challenges posed by rising trade barriers and maintain a stable global economic environment.

Read at time.com