Shipping containers at the Port of Long Beach as cargo ships are moored off the coast of Long Beach, California, on Nov. 16, 2021. (Bing Guan/Bloomberg News)

By Mikhail Klimentov

Global economic growth is expected to take a hit, in part as a result of President Donald Trump’s tariffs, if major nations remain mired in unresolved trade disputes, the Organization for Economic Cooperation and Development said in a report released Tuesday.

In the United States, GDP growth is projected to fall from 2.8 percent in 2024 to 1.6 percent in 2025 and 1.5 percent in 2026, according to the OECD, if the tariff rates imposed by Trump as of mid-May — the highest U.S. tariffs since 1938 — remain in place. GDP, the sum of all goods and services produced in the country, is the broadest measure of the econo

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