Worst global growth for 6 years forecast due to Trump tariffs

Quick Summary:

The World Bank predicts global economic growth of 2.7% this year amid concerns living standards will struggle to improve.

He warned trade tariffs, which President-elect Donald Trump has threatened to introduce on imports to the US, could have worldwide economic consequences.

The prospect of higher taxes being introduced on imports to the US is concerning many world leaders because they will make it more expensive for companies to sell their goods in the world's biggest economy.

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Article Details

Category: Business

Markets: United KingdomCanadaChinaIndiaMexico

Topics: Trade Imports Growth Kose Tariffs Economy World Global Economic 2025

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-16 @ 18:00:24 (12 hours ago)

News Timezone: GMT +0:00

News Source URL: bbc.com

Language: English

Article Length: 665 words

Reading Time: 4 minutes read

Sentences: 26 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © BBC Business

News ID: 25200186

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About BBC Business

Main Topics: Business

Official Website: bbc.co.uk

Update Frequency: 8 posts per day

Year Established: 1922

Headquarters: United Kingdom

News Last Updated: 13 hours ago

Coverage Areas: United Kingdom

Ownership: Independent Company

Publication Timezone: GMT +0:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #43

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