“It has not yet been fully felt,” emphasizes the Organization for Economic Cooperation and Development regarding the impact of the trade war. It notes that the global economy is expected to be more resilient than anticipated to the significant increase in tariffs imposed by American President Donald Trump.
OECD: The growth forecast
Global growth is expected at 3.2% this year, compared to a 2.9% forecast in the June publication of the Paris-based organization’s previous economic projections. The forecast remains unchanged for 2026 at 2.9%, according to the OECD.
Regarding the American economy, it is expected to pay the price this year from President Trump’s tariff battle with growth slowing to 1.8%, and then to 1.5% next year, compared to GDP growth of 2.8% last year.
For the eurozone, growth is expected in 2025 to be slightly higher by 0.2 percentage points compared to the OECD’s June forecasts, at 1.2%, and reduced by 0.2 percentage points for 2026 to 1.0%.
