World Bank sharply downgrades forecast for global economic growth to 2.3%

The report did not mention Mr Trump by name, but did mention tariffs (AP)

US President Donald Trump’s trade wars are expected to slash economic growth this year in America and around the world, the World Bank forecast.

Citing “a substantial rise in trade barriers” but without mentioning Mr Trump by name, the 189-country lender predicted that the US economy – the world’s largest – would grow half as fast (1.4%) this year as it did in 2024 (2.8%).