{"id":55062,"date":"2025-04-17T21:11:15","date_gmt":"2025-04-17T21:11:15","guid":{"rendered":"https:\/\/www.africa-press.net\/lesotho\/all-news\/tariffs-tensions-spur-global-recession-concerns"},"modified":"2025-05-08T06:09:37","modified_gmt":"2025-05-08T06:09:37","slug":"tariffs-tensions-spur-global-recession-concerns","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/lesotho\/all-news\/tariffs-tensions-spur-global-recession-concerns","title":{"rendered":"Tariffs tensions spur global recession concerns"},"content":{"rendered":"

Africa-Press – Lesotho. <\/strong><\/span>US President Donald Trump\u2019s tariffs since his inauguration and the rising uncertainties over trade policies around the world spur recession concerns this year, as international organizations reduce their growth forecast for the global economy.<\/p>\n

Growth estimates sharply declined as China fights back against Trump\u2019s tariffs with retaliatory tariffs ever since Washington unveiled the reciprocal tariffs imposed on over 180 countries on April 2.<\/p>\n

The UN Conference on Trade and Development (UNCTAD) projects that global growth will slow to 2.3% this year, below the 2.5% threshold usually seen in a global recession. The projection marks a sharp slowdown compared to the annual economic growth rates in the pre-pandemic period.<\/p>\n

The UNCTAD Economic Policy Uncertainty Index reached 460.2 in January, the highest of the century.<\/p>\n

The World Trade Organization (WTO) downwardly revised its global growth forecast by 0.6% to 2.2%, citing tariffs and rising policy uncertainties. The WTO estimates that the global trade in goods will contract by 0.2% this year due to high tariffs, while the harshest situation is expected to be seen in North America with significantly fewer exports.<\/p>\n

The 0.2% contraction is expected as pressure eases following Trump\u2019s 90-day tariff pause. In the event of tariffs\u2019 resumption, the contraction in global trade could reach as high as 1.5% this year.<\/p>\n

The WTO estimates that the global economy will grow 2.4% in 2026.<\/p>\n

Meanwhile, Fitch lowered its global growth forecast for the second time this year to 1.9% from 2.3% due to fueling tariff wars and uncertainties, while estimating a 1.2% growth in the US economy for this year, which is expected to sharply slow down in the fourth quarter.<\/p>\n

China\u2019s growth is expected to decline below 4% this year and in 2026 and the eurozone\u2019s growth is estimated to remain well below 1%.<\/p>\n

The recession in the US and China\u2019s economic growth falling below 4.5% are likely to directly impact the world economy.<\/p>\n

The IMF said Trump\u2019s tariff poses great risks to the global economy, predicting a decline of about 2% to the US gross domestic product (GDP) and 1% to the global GDP, assuming that China and the EU will take countermeasures against Washington.<\/p>\n

The OECD\u2019s Economic Outlook report lowered its global growth forecast to 3.1% in 2025 and 3% in 2026, while estimating the US economy to grow 2.2% this year and 1.6% next year. The estimate was made before Trump announced reciprocal tariffs.<\/p>\n

Additionally, the Bank of England said Washington\u2019s tariffs could lead to weak global economic growth and put upward pressure on inflation. The Office for Budget Responsibility cut the UK\u2019s growth estimate from 2% to 1% for this year.<\/p>\n

– Trump\u2019s 90-day tariff pause<\/p>\n

Trump announced that the reciprocal tariffs that were revealed on April 2 would be suspended for 90 days for countries willing to negotiate, while the 10% base rate would still apply.<\/p>\n

Tariff tensions between the US and China have been on the rise since the announcement of the 90-day tariff pause, as the US total tariffs on Chinese products reach 245%, with 125% reciprocal and 20% fentanyl and Article 301-related, and tariff rates ranging from 7.5% to 100% on some products.<\/p>\n

China\u2019s tariffs on US imports reached 125% at the same time.<\/p>\n

For More News And Analysis About Lesotho<\/span> Follow Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Lesotho. US President Donald Trump\u2019s tariffs since his inauguration and the rising uncertainties over trade policies around the world spur recession concerns this year, as international organizations reduce their growth forecast for the global economy. Growth estimates sharply declined as China fights back against Trump\u2019s tariffs with retaliatory tariffs ever since Washington unveiled […]<\/p>\n","protected":false},"author":84,"featured_media":55061,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[2552,245,3671,5746,5311,4824,5383,1888],"class_list":["post-55062","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-global-economy","tag-lesotho","tag-recession","tag-reciprocal-tariffs","tag-tariffs","tag-us-economy","tag-us-president-donald-trump","tag-usa"],"yoast_head":"\nTariffs tensions spur global recession concerns - Lesotho<\/title>\n<meta name=\"description\" content=\"US President Donald Trump\u2019s tariffs since his inauguration and the rising uncertainties over trade policies around the w ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/lesotho\/all-news\/tariffs-tensions-spur-global-recession-concerns\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tariffs tensions spur global recession concerns\" \/>\n<meta property=\"og:description\" content=\"US President Donald Trump\u2019s tariffs since his inauguration and the rising uncertainties over trade policies around the w ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/lesotho\/all-news\/tariffs-tensions-spur-global-recession-concerns\" \/>\n<meta property=\"og:site_name\" content=\"Lesotho\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2025-04-17T21:11:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-05-08T06:09:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/lesotho\/sites\/62\/2025\/04\/sm_1744910284.299643.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"864\" \/>\n\t<meta property=\"og:image:height\" content=\"486\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/tariffs-tensions-spur-global-recession-concerns#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/tariffs-tensions-spur-global-recession-concerns\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Tariffs tensions spur global recession concerns\",\"datePublished\":\"2025-04-17T21:11:15+00:00\",\"dateModified\":\"2025-05-08T06:09:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/tariffs-tensions-spur-global-recession-concerns\"},\"wordCount\":524,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/tariffs-tensions-spur-global-recession-concerns#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/lesotho\/sites\/62\/2025\/04\/sm_1744910284.299643.jpg\",\"keywords\":[\"global economy\",\"Lesotho\",\"recession\",\"reciprocal tariffs\",\"tariffs\",\"US economy\",\"US President Donald Trump\",\"USA\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/lesotho\/all-news\/tariffs-tensions-spur-global-recession-concerns#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/tariffs-tensions-spur-global-recession-concerns\",\"url\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/tariffs-tensions-spur-global-recession-concerns\",\"name\":\"Tariffs tensions spur global recession concerns - 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