Tariffs to blame for slowed global economic growth, OECD says

Global economic growth has been downgraded by the Organisation for Economic Co-operation and Development (OECD) – as the impact of US President Donald Trump’s tariffs becomes apparent. Major economies including the UK will have lower rates of GDP – a measure of an economy’s value and everything produced – due to the US’s imposition of taxes on some goods it imports, the Paris-based OECD club of 38 rich countries said. The UK economy will grow only 1.4% this year, as opposed to the 1.7% previously anticipated. Next year, the figure will be 1.2%, lower than the 1.3% forecast before Mr…