The World Bank announced on Tuesday that trade wars initiated by former U.S. President Donald Trump are expected to reduce economic growth in the U.S. and globally this year. The institution forecasts that the U.S. economy, the largest in the world, will grow by just 1.4% this year, down from 2.8% in 2024. This marks a significant decline from the 2.3% growth predicted by the bank in January 2025. Additionally, the World Bank has lowered its global economic growth forecast for the year by 0.4 percentage points, now expecting a growth rate of 2.3% compared to 2.8% in 2024.
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