DONALD Trump has been warned a trade war prompted by US protectionism could derail a recovery in global growth, which has reached its highest level in seven years.
In its latest interim forecasts, the Paris-based Organisation for Economic Co-operation and Development said it expected the world economy to expand by 3.9% in both 2018 and 2019 – a 0.3 percentage point upgrade in each year from its last set of predictions last November.
In November the thinktank said the global economy would grow by 3.6 percent last year, 3.7 percent in 2018 and 3.6 percent in 2019.
But in the wake of US tax cuts unveiled by Mr Trump and the threat of a trade war between the US and the European Union over steel and aluminium tariffs, the OECD has warned the global economy is at risk.
Mr Pereira added the introduction of the trade tariffs by the US President is not the right way of solving the problem of excess steel production and has urged the Trump administration to seek a collective solution through the OECD.
> Shiuly Akter
Trade War may Derail Global Economic Recovery, Warns OECD
Will You Support Our Work?
People turns to WhatsOn to understand what's goingOn? We have been empowering through hope & understanding for the last forty years. We’re an independent social enterprise & our journalism is powered by our supporters. Financial contributions from our readers allows us to keep our journalism free for all & to change the world for better. Please support us, with your donation - no matter how small. Your donation makes a real difference, it empowers our activist & academy, and engages wider community groups, & universities - connecting more people. WhatsOn is a change maker, let’s get our future back together!
