The World Bank expects Trump’s barrage of new tariffs on America’s trading partners to whittle down global economic growth to its lowest level since the 2008 financial crisis when discounting worldwide recessions, according to a report released Tuesday.
While the Washington, DC-based institution does not expect another global recession due to the tariffs, it said in a press release that — should its projections for global growth come to pass this year and next — “average global growth in the first seven years of the 2020s will be the slowest of any decade since the 1960s.”
