Economic growth will slow this year and next as the trade war hampers development in the United States and around the world, the Organization for Economic Cooperation and Development said.

In a bold move, President Donald Trump has signed an executive order to double tariffs on steel and aluminum imports from 25% to 50%. This decision, effective June 4, 2025, aims to bolster the domestic industry and safeguard national security,

US President Donald Trump’s combative trade policies are hurting global economic growth, with the US among the hardest hit, according to the OECD. The Paris-based organization slashed its outlook for the second time this year,

The ongoing trade tensions between the United States and China have reached a critical point, with both nations entrenched in a complex web of accusations and strategic maneuvers. President Trump has publicly stated that China lacks leverage in the ongoing tariff negotiations.