OECD: High uncertainty hurts global growth
(VOVWORLD) - Global expansion is likely to slow as tensions fueled by US President Donald Trump’s protectionist policies stifle world trade, the Organisation for Economic Cooperation and Development (OECD) said Thursday in a report titled "High Uncertainty Weighing on Global Growth".
 (Photo: Reuters) |
The OECD report warned that trade tensions are leading to a rise in uncertainty that is hurting both advanced and emerging market economies. It said a further rise in trade tensions would have significant adverse effects on global investment, jobs, and living standards.
The warning came as trade conflicts between the US and China accelarated. President Trump this week announced 10 percent tariffs on another 200 billion USD worth of Chinese goods. China said it will retaliate with tariff actions against 60 billion USD worth of US goods and file a complaint with the World Trade Organization.