The bank warned that further trade tariff hikes could push global growth to just 1.8% this year
The World Bank forecast on Tuesday that the global and US economies are in turbulent times, facing slower growth amid President Donald Trump’s tariffs and the trade uncertainty they create.
The institution has halved US growth projection to 1.4% for 2025.
Global growth is also expected to cool to 2.3%, with countries like Mexico seeing the sharpest declines.
The bank warned that further tariff hikes could push global growth to just 1.8% this year. It is concerned that escalating trade barriers could particularly hurt developing economies.