World output will cool to 2.9% in 2025 and 2026 from 3.3% last year, the Paris-based OECD said in a report Tuesday, with the U.S. among the worst hit.

The global economy is slowing. In a sharply downgraded forecast released Tuesday, the Organisation for Economic Co-operation and Development warned that President Donald Trump’s volatile yet sweeping tariff policies are inflicting greater damage than expected,

Donald Trump’s combative trade policies have tipped the world economy into a downturn, with the US among the hardest hit, the OECD said.