Getty ImagesThe global economy is set to flatline this year amid fears including fresh US tariffs hitting trade, the World Bank has warned.
Growth of 2.7% would be the joint weakest performance since 2019, aside from the sharp contraction seen at the height of the Covid pandemic.
It is a rate the world can “live with” according to the bank’s deputy chief economist Ayhan Kose, but would not be enough to improve people’s living standards in both richer and poorer countries.
He warned trade tariffs, which President-elect Donald Trump has threatened to introduce on imports to the US, could have worldwide economic consequences.
The prospect of higher taxes being introduced on imports to the US is concerning many world leaders because they will make it more expensive for companies to sell their goods in the world’s biggest economy.
Tariffs are a central part of Trump’s economic vision…
