President Donald Trump is determined to wield the economic might of the U.S. to correct what he sees as imbalanced global trade. The pain is real but it might be worth it in the White House’s view.
In a quarterly report published Monday, the OECD cut its growth forecasts for most of the world’s largest economies over this year and next. It said the U.S. economy will now likely grow by 2.2% this year and 1.6% next, having previously forecast growth of 2.4% and 2.1%.
Is there any upside? Well, from the Trump administration’s point of view it could say the effects look worse for those on the other side of the trade war and will drive them to the negotiating table.