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US President Donald Trump trade wars We expect that economic growth This year in the United States and worldwide, the World Bank is planning on Tuesday.
Citing “a substantial increase in commercial barriers”, but without mentioning Trump by name, the lender of 189 countries predicted that the American economy – the largest in the world – would increase as rapid half (1.4%) this year as in 2024 (2.8%).
This marked a deterioration in American growth of 2.3% which it had planned for 2025 in January.
The bank has also launched 0.4 percentage points on its global growth forecasts this year. It now expects the world economy to extend only 2.3% in 2025, compared to 2.8% in 2024.
In an advantage towards the latest version of the report on global economic prospects twice paragraph, the chief economist of the World Bank Indermit Gill wrote that the world economy had missed his luck for “gentle landing” – slowing down enough to tame inflation without generating serious pain – it appeared only six months ago.
“The global economy today comes up against turbulence,” wrote Gill. “Without a quick course correction, the damage to the standard of living could be deep.”
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America’s economic prospects have been darken by Trump’s erratic and aggressive trade policies, including 10% of taxes – price – on imports of almost all countries of the world. These levies increase costs in the United States and invite reprisals to other countries.
The Chinese economy is expected to see the growth slowed 5% in 2024 to 4.5% this year and four percent next one. The second world economy was hampered by the Prices that Trump imposed on his exportsby the collapse of its real estate market and by an aging workforce.
The World Bank expects the 20 European countries that share the European currency collectively increased by 0.7% this year, down compared to 0.9% already dull in 2024.
Trump’s prices should affect European exports. And the unpredictable way he deploys them – announcing them, suspended them, offering news – has created an uncertainty that discourages commercial investment.
India is expected to save the fastest economy in the world again, developing a clip of 6.3% this year.
But this is down 6.5% in 2024 and among the 6.7% that the bank had planned for 2025 in January.
In Japan, economic growth is expected to accelerate this year – but only from 0.2% in 2024 to 0.7% of 0.7% this year, well below 1.2% that the World Bank had scheduled in January.
The World Bank seeks to reduce poverty and stimulate the standard of living by offering subsidies and low -rate loans to poor savings.
Another multinational organization that seeks to promote global prosperity – Organization of economic cooperation and development – Last week lowered his forecasts for American and global economies.
& Copy 2025 the Canadian press
