The World Bank said it has had to sharply lower its global growth forecasts because of President Trump’s blizzard of tariffs to try to help right the situation and amid the ongoing

Along with a sharply downgraded projection for global output this year, it urged a “course correction” on trade to help preserve living standards.

Global economic growth is on track for its weakest decade since the 1960s, according to a new analysis by the World Bank, which cites President Donald Trump’s trade war as a major factor weighing on economies worldwide.

The U.S. economy is likely to grow just 1.4% this year, half the rate recorded in 2024, as a result of President Trump's tariff policies, the World Bank said. + The new forecast compares to the 2.3% rate it had projected in January.