A: Hey there! Did you catch the latest news?
B: No, what's up?
A: The OECD just revised their global growth forecast for this year, it's not as good as they thought before.
B: Oh, really? Why's that?
A: Well, they blame it on the tariffs President Trump is imposing. They say if Trump keeps going like this, it could lead to more tariffs from other countries and that would hurt spending worldwide.
B: So, where does the US stand now?
A: The US growth projection has been downgraded to 1.6% this year. Tariffs are expected to suppress income increases there.
B: And how about China and Japan?
A: China's forecast was trimmed a bit, it'll grow at 4.7%, and Japan's growth is expected to be 0.7%. The Eurozone is still looking at 1% growth.
A: The OECD warned that if the US raises its tariffs more, there could be retaliation from trade partners which would put pressure on spending globally. So, let's keep an eye on this situation!
----------------
The Organisation for Economic Co-operation and Development has downgraded its growth forecast for the global economy this year to 2.9 percent, citing the impact of tariffs by the administration of US President Donald Trump.
The new projection, contained in the OECD's latest economic outlook, is down by 0.2 percentage points from its March projection.
The OECD says the forecast is based on the assumption that Trump will maintain the tariff measures he launched up to mid-May. They include additional levies on automobiles, steel and aluminum, as well as a baseline 10-percent duty on countries and regions.
The organization forecasts the US economy will grow 1.6 percent this year, down by 0.6 points from the previous projection, as tariffs suppress income increases.
The OECD trimmed its growth projection for China by 0.1 point to 4.7 percent, lowered the figure for Japan by 0.4 points to 0.7 percent, and maintained its forecast for the Eurozone at 1 percent.
The organization warns if the US raises its tariffs even further, it could promote retaliatory measures by the country's trade partners. It warns that this would cause downward pressure on corporate and household spending around the world.
B: No, what's up?
A: The OECD just revised their global growth forecast for this year, it's not as good as they thought before.
B: Oh, really? Why's that?
A: Well, they blame it on the tariffs President Trump is imposing. They say if Trump keeps going like this, it could lead to more tariffs from other countries and that would hurt spending worldwide.
B: So, where does the US stand now?
A: The US growth projection has been downgraded to 1.6% this year. Tariffs are expected to suppress income increases there.
B: And how about China and Japan?
A: China's forecast was trimmed a bit, it'll grow at 4.7%, and Japan's growth is expected to be 0.7%. The Eurozone is still looking at 1% growth.
A: The OECD warned that if the US raises its tariffs more, there could be retaliation from trade partners which would put pressure on spending globally. So, let's keep an eye on this situation!
----------------
The Organisation for Economic Co-operation and Development has downgraded its growth forecast for the global economy this year to 2.9 percent, citing the impact of tariffs by the administration of US President Donald Trump.
The new projection, contained in the OECD's latest economic outlook, is down by 0.2 percentage points from its March projection.
The OECD says the forecast is based on the assumption that Trump will maintain the tariff measures he launched up to mid-May. They include additional levies on automobiles, steel and aluminum, as well as a baseline 10-percent duty on countries and regions.
The organization forecasts the US economy will grow 1.6 percent this year, down by 0.6 points from the previous projection, as tariffs suppress income increases.
The OECD trimmed its growth projection for China by 0.1 point to 4.7 percent, lowered the figure for Japan by 0.4 points to 0.7 percent, and maintained its forecast for the Eurozone at 1 percent.
The organization warns if the US raises its tariffs even further, it could promote retaliatory measures by the country's trade partners. It warns that this would cause downward pressure on corporate and household spending around the world.
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Summary
The Organisation for Economic Co-operation and Development (OECD) has revised downward the global growth forecast to 2.9% due to US tariffs imposed by President Trump. The new projection is a decrease of 0.2 percentage points from the March prediction. The OECD assumes that tariff measures will
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ID: 4864ffd8-6599-470e-8d12-3c0c26fabfbd
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20250603_B4/
Created: 2025/06/04 07:05
Updated: 2025/12/08 03:50
Last Read: 2025/06/04 17:23