Tit-for-tat tariffs between the US and its partners are already damaging the global economy and pose a greater threat next year as trade slows down, the OECD said on Thursday.
In its interim economic outlook, issued days after Washington and Beijing announced some of the most sweeping tariffs for decades, the Paris-based international organisation said that to date the effect of the trade tensions had been “mild”.
But it added that the tariffs risked becoming more detrimental to global growth, which the OECD said had now “plateaued”.
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