OECD Report Says Trade War Could Take $600 Billion From World Economy

Credit: Wochit News
Published on May 21, 2019 - Duration: 00:44s

OECD Report Says Trade War Could Take $600 Billion From World Economy

Business Insider reports the Organization for Economic Cooperation and Development warned Tuesday that escalation in the trade war between China and the U.S. could lead to a decrease in the global gross domestic product by as much as 0.7%, or approximately $600 billion, by 2021.

Bloomberg Economics has released similar estimates.

The US and China have hit each other with tariffs on roughly $360 billion worth of their products.


OECD Report Says Trade War Could Take $600 Billion From World Economy

NOV.

9, 2017 FILE PHOTO MAY 1, 2019, POOL FILE PHOTO MARCH 28, 2019, PHOTO

You are here

Recent related videos from verified sources

Roughly One Third of Economists Think Recession Will Hit in 2021 00:53
Credit: Veuer - Published 1 day ago 

Trump dismisses recession fears 01:33
Credit: Reuters Studio - Published 1 day ago 

White House says no recession in sight 01:35
Credit: Reuters - Politics - Published 1 day ago 

China's trade threats deal fresh blow to world stocks 01:31
Credit: Reuters Studio - Published 5 days ago 

You might like