The trade war launched by Donald Trump is causing a serious brake on global growth, according to forecasts published by the World Bank on Tuesday, June 10. The international institution expects a global economy that would increase by 2.3 % this year, after 2.8 % in 2023 and 2024. It is 0.4 points less than it provided in January.
“Only six months ago, a smooth landing seemed in sight: the world economy stabilized after an extraordinary suite in recent years of calamities that are both natural and caused by humans [à savoir la pandémie et la guerre en Ukraine],, explains Indermit Gill, his chief economist. This moment has passed. The global economy between again in an area of turbulence. Without quick correction, damage to living standards could be deep. »» These forecasts are based on the hypothesis of customs duties which would remain at their end of May, that is to say after the partial retreat of Donald Trump on China and after his agreement with the United Kingdom.
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Source: Lemonde