💨 Abstract

Fitch Ratings reports that President Trump's tariffs have initiated a global trade war, reducing US and worldwide growth, increasing inflation, and delaying Federal Reserve rate cuts. The US growth forecast has been cut to 1.7% in 2024 and 1.5% in 2026, below the trend of 3% annual growth in 2023 and 2024. The average world growth will slow to 2.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖