OECD economists sound alarm over impact of amplified trade tensions

Global trade growth has “slowed abruptly” over the past year, the Organization for Economic Cooperation and Development says in its new forecast for 2019, warning that unless trade barriers are lowered, member countries' living standards could drop by 2020. OECD Secretary-General Angel Gurría said while a “number of downside risks” are discussed in the May 2019 assessment, “the biggest threat is the escalation of trade-restrictive measures.” “The world economy is in a dangerous place,” he said at the OECD headquarters...