Trump's tariff hikes to sap Canadian, Mexican and U.S. economic growth, OECD says

Open this photo in gallery: The OECD headquarters, in Paris.Charles Platiau/Reuters President Donald Trump's tariff hikes will drag down growth in Canada, Mexico and the United States while driving up inflation, the OECD forecast on Monday, cutting its global economic outlook and warning that a broader trade war would sap growth further. In the case of a generalized trade shock, not only will U.S. households pay a high direct price, but the likely economic slowdown will cost the United States more than the extra income the tariffs are supposed to generate, the Organisation for Economic Cooperation and Development estimated in…