Trump Tariffs Are Global Risk on Par With Crash, Pandemic -- Market Talk

Dow Jones04-03

1205 GMT - President Trump's tariffs could cause the world economy to grow at one its weakest rates this century, outside of the global financial crisis and the pandemic period, Oxford Economics macro-research director Ben May warns. Washington's tariff package, set out Wednesday, is even more severe than feared for most countries and will continue to cause great uncertainty, especially for export-oriented economies, May says. That primes a slowdown in global GDP growth to below 2% in 2025, the weakest level since the credit crisis of 2008, except for the pandemic, according to Oxford's initial projections. The world economy grew 3.2% last year, according to the OECD. Still, the economy should be able to avoid recession, May adds.(joshua.kirby@wsj.com; @joshualeokirby)

(END) Dow Jones Newswires

April 03, 2025 08:05 ET (12:05 GMT)

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