The trade dispute between the US and China is weighing on the global economy. Therefore, the spring forecast of the Organization for Economic Cooperation and Development is eagerly awaited. That’s how much the OECD has already told euronews: growth expectations for the global economy had to be downgraded from 4% to just over 3%.
OECD Secretary-General Ángel Gurría said: “What happens when there is tension in trade? The investments go down, because why invest? You invest, then sell again to get a decent profit. And if you do not know whether you will have access to the markets or what tariffs you have to pay for access – tariffs that end up paying the consumer – then you simply will not invest. “
Beijing and Washington have been covering each other for several months with punitive tariffs. After the US had recently increased the levies sensitively, China followed suit. The consequences are felt, according to a recent member survey of the EU Chamber of Commerce in Beijing and companies from Europe.