The World Bank is predicting the slowest decade for global growth since the 1960s, citing Trump's tariffs as a factor.
Since the bank's last set of economic predictions six months ago, almost two thirds of countries around the world have seen their growth forecasts slashed.
It now forecasts global growth of just 2.3% in 2025, 0.4% lower than its estimate back in January. And for 2027, growth of just 2.6% is expected.
The BBC reports that Europe, the US, and Japan are among those seeing their forecasts downgraded since January, before Donald Trump took office and implemented his tariffs.
The US president's universal 10% import levy, as well as higher taxes on certain materials, triggered market freefall in April, with wild swings since.
China's economic forecast was not downgraded.
The report highlighted a "more challenging" global economic context, amid "heightened policy uncertainty and increased trade barriers".
FTSE 100
The UK's flagship share index, the FTSE 100, was up 5 points at 8,870 shortly after opening this morning.
Brent crude oil futures were up 0.31% at $64.84 a barrel.
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