The OECD’s recent report indicates that while public concern over the Trump administration’s tariffs has diminished due to trade deal announcements, the economic repercussions are still unfolding. Global economic growth, initially stronger than expected, is projected to decline from 3.3% in 2024 to 2.9% in 2026, with U.S. GDP growth anticipated to drop from 2.8% to 1.5% during the same period, largely due to tariffs. The effective tariff rate on U.S. imports has reached 19.5%, the highest since 1933, leading to increased consumer prices, especially for durable goods.

Source: https://www.supplychaindive.com/news/oecd-economy-tariffs-gdp-aluminum-steel-plastic/761037/