The World Bank said it has had to sharply lower its global growth forecasts because of President Trump’s blizzard of tariffs to try to help right the situation and amid the ongoing

Along with a sharply downgraded projection for global output this year, it urged a “course correction” on trade to help preserve living standards.

The World Bank on Tuesday slashed its global growth forecast for 2025 by four-tenths of a percentage point to 2.3%, saying that higher tariffs and heightened uncertainty posed a "significant headwind" for nearly all economies.

The Pentagon estimated the troop deployment to L.A. will cost $134 million. The World Bank called for lower, equitable tariffs. What happened: The top economists at the World Bank called on the U.S. and its trading partners to reduce their tariffs to levels typically imposed by the U.S.

Global economic growth is on track for its weakest decade since the 1960s, according to a new analysis by the World Bank, which cites President Donald Trump’s trade war as a major factor weighing on economies worldwide.

The U.S. economy is likely to grow just 1.4% this year, half the rate recorded in 2024, as a result of President Trump's tariff policies, the World Bank said. + The new forecast compares to the 2.3% rate it had projected in January.