Donald Trump's Tariffs Could Cut US Economy's Growth in Half—World Bank
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The World Bank has released a startling set of numbers showing the lack of confidence in international and national market growth as a result of a variety of economic factors, including tariff policies from President Donald Trump.
On Tuesday, the latest report painted a grim picture of declining Gross Domestic Product (GDP) worldwide.
“In short, many of the forces behind the great economic miracle of the last 50 years—when per capita GDP in developing countries nearly quadrupled and more than 1 billion people escaped extreme poverty—have swung into reverse,” the report stated.
The U.S. economy, which is the largest one in the world, is predicted to grow half as fast in 2025 than it did in 2024, with a drop from 2.8 percent growth to 1.4 percent growth, according to the report.
President Donald Trump holds a chart as he delivers remarks on reciprocal tariffs during an event in the Rose Garden entitled “Make America Wealthy Again” at the White House on April 2, 2025.
Photo by BRENDAN SMIALOWSKI/AFP via Getty Images
This comes nearly three months after Trump announced tariffs on what he called “Liberation Day,” calling for a 10 percent minimum tariff on all imports and up to 145 percent on Chinese goods.
Following the announcement, the Treasury Department brought in $15.9 billion from tariffs in April, compared to $9.6 billion the previous month, according to official data reviewed by Newsweek.
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