The OECD predicts global growth will slow to 3.1% this year and 3% in 2026, largely due to trade barriers and uncertainty. The US growth rate is expected to decline to 1.6% in 2024, the weakest since 2011 (excluding the Covid pandemic). Increased trade costs will fuel higher inflation, requiring central banks to maintain restrictive policies longer. Countries in the trade conflict, such as Canada and Mexico, may see sharper decelerations.