The OECD’s latest outlook highlights the resilience of global trade despite heightened protectionism under U.S. President Donald Trump’s tariff policies. While new import taxes were expected to disrupt international commerce, many firms adapted by accelerating shipments before levies took effect, softening the blow to cross-border flows. As a result, the world economy is projected to grow 3.2% this year, with trade-driven growth supported by strong performances in China (5%) and India (6.7%), alongside modest recovery in the EU.
“The global economy has been resilient this year, despite concerns about a sharper slowdown in the wake of higher trade barriers and significant policy uncertainty,” OECD Secretary-General Mathias Cormann wrote in a commentary accompanying the forecasts. Still, he added: “We expect higher tariffs to gradually feed through to higher prices, reducing growth in household consumption and business investment.’’
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