Key Takeaways The global economy could grow less this year than previously projected, the World Bank said Tuesday.The World Bank cited trade tensions and policy uncertainty related to tariffs as factors driving its lowered outlook.

The World Bank has significantly downgraded its global economic outlook for the year ahead. The organization blamed trade disruption caused by President Donald Trump’s ongoing tariff war as a major factor in what looks to be the weakest expansion since the 2008 financial crisis.

Due to U.S. trade policies, another global financial institution forecasted slower economic growth on Tuesday.