Trump tariffs: Canada and Mexico growth forecasts slashed by OECD
Trump's tariffs will hit its biggest steel trading partners' economies the most, the OECD predicts.
British Broadcasting CorporationWatch LiveHomeNewsSportBusinessInnovationCultureArtsTravelEarthAudioVideoLiveHomeNewsIsrael-Gaza WarWar in UkraineUS & CanadaUKUK PoliticsEnglandN. IrelandN. Ireland PoliticsScotlandScotland PoliticsWalesWales PoliticsAfricaAsiaChinaIndiaAustraliaEuropeLatin AmericaMiddle EastIn PicturesBBC InDepthBBC VerifySportBusinessExecutive LoungeTechnology of BusinessFuture of BusinessInnovationTechnologyScience & HealthArtificial IntelligenceAI v the MindCultureFilm & TVMusicArt & DesignStyleBooksEntertainment NewsArtsArts in MotionTravelDestinationsAfricaAntarcticaAsiaAustralia and PacificCaribbean & BermudaCentral AmericaEuropeMiddle EastNorth AmericaSouth AmericaWorld’s TableCulture & ExperiencesAdventuresThe SpeciaListEarthNatural WondersWeather & ScienceClimate SolutionsSustainable BusinessGreen LivingAudioPodcastsRadioAudio FAQsVideoLiveLive NewsLive SportHomeNewsSportBusinessInnovationCultureArtsTravelEarthAudioVideoLiveWeatherNewslettersTrade turmoil forecast to slash growth in Canada and Mexico23 hours agoShareSaveFaarea MasudBusiness reporter, BBC NewsShareSaveGetty ImagesUS President Donald Trump's escalating trade tariffs will hit world growth and raise inflation, the OECD has predicted in its latest forecast.
Canada and Mexico are forecast to see the biggest impact as they have had the harshest tariffs imposed on them, but US growth is also expected to be hit.
The OECD has more than halved its growth outlook for Canada for this year and next, while it expects Mexico to be pushed into a recession.
Trump has imposed 25% tariffs on all steel and aluminium imports. The US has also imposed 25% tariffs on other imports from Mexico and Canada - with some exemptions - and a 20% levy on Chinese goods.
In response, Canada and the EU have both announced retaliatory tariffs.
https://www.bbc.com/news/articles/c9wpq0g10xjo
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