Tariffs to push global growth below 2% in 2025: Fitch
Fitch Ratings has downgraded its 2025 global growth forecast by 0.4 percentage points amid escalating US-China tariffs, predicting world growth below 2 per cent. The US effective tariff rate has surged to 23 per cent, its highest since 1909, with inflation forecast above 4 per cent. As growth in China and the eurozone slows, Fitch anticipates deeper rate cuts globally, aided by lower oil prices.
Fitch Ratings has downgraded its 2025 global growth forecast by 0.4 percentage points amid escalating US-China tariffs, predicting world growth below 2 per cent.
The US effective tariff rate has surged to 23 per cent, its highest since 1909, with inflation forecast above 4 per cent.
As growth in China and the eurozone slows, Fitch anticipates deeper rate cuts globally, aided by lower oil prices.
