World Bank Backs Trump’s Tariff Concerns, Urges Global Partners to Lower Trade Barriers
In a significant move, the World Bank has effectively affirmed President Donald Trump's long-standing grievances regarding the disproportionately high tariffs faced by American goods abroad.
The international financial institution called upon U.S. trading partners to substantially decrease their import duties, aiming to align them more closely with the generally lower tariffs applied by the United States.
This recommendation emerged during a press briefing where the World Bank presented its economic outlook, which also concluded that the multi-faceted trade disputes initiated by the former president were negatively impacting both the U.S. and the broader global economy.
Looking ahead, World Bank experts projected that the U.S. economy in 2025 would expand at an annual rate of 1.4 percent.
This represents a downward revision of 0.9 percentage points from its January forecast, signifying the weakest U.S. economic performance since the global financial crisis, excluding the initial year of the pandemic in 2020. Conversely, the forecast for China’s growth remained stable at a 4.5 percent pace.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
