It appears President Trump’s all-American economic bravado is having global consequences. According to the OECD — that unassuming Paris-based bunch with a knack for numbers — the world economy is heading for a sharp deceleration, thanks in no small part to Washington’s newfound obsession with tariffs and trade walls.

In its latest downgrade (the second this year — practice makes perfect), the OECD slashed global growth forecasts, pinning the blame squarely on the Trump administration’s tariff crusade. Hiking import duties, destabilising long-standing trade alliances, and stoking protectionist fires aren’t conducive to investment or global confidence.

The revised outlook projects global GDP growth of just 2.9% in 2025, down from the 3.3% forecast made in March. The US economy, ever the “winner” in Trumpian speeches, is now expected to expand a meagre 1.6%, down from 2.8%. That’s not a slowdown — it’s a full-blown pratfall.

“The deterioration in the global outlook will be felt everywhere, without exception,” warned Álvaro Pereira, the OECD’s chief economist, in what might be the understatement of the year. “Lower growth and weaker trade will hurt incomes and weigh on employment.” But do carry on tweeting about greatness.

The OECD wasn’t subtle: Trump’s trade policies have become the primary threat to global stability — and the drama may not be over. Tit-for-tat retaliation, evaporating confidence, and another sudden pricing tantrum on global markets could further spoil the party.

In a coincidental stroke of timing, the forecast was released just as trade ministers — including the US’s own Jamieson Greer and Europe’s Maros Šefčovič — gathered in Paris, no doubt to engage in cordial discussions about “reciprocity” while eyeing each other suspiciously across conference tables.

According to the OECD, the only viable way out of this mess is to actually reduce trade barriers, settle disputes, and foster cooperation. In other words, the opposite of what’s happening. “This is by far the most urgent policy priority,” it declared. Good luck with that.

And even if Trump miraculously has a change of heart — perhaps mid-rally or between rounds of golf — the damage has already been done. The uncertainty he’s fostered won’t vanish overnight, and the hoped-for deflationary magic from lifting tariffs won’t be showing up any time soon.

Back home, the US economy faces further headwinds. Trump’s hard line on immigration and his campaign to shrink the federal workforce is apparently not helping. And that budget deficit? It’s ballooning — because when you tank the economy, even tariffs can’t plug the fiscal hole.

“The main drags are falling exports due to retaliation, deep political uncertainty, and a steep drop in net migration,” noted OECD Secretary-General Mathias Cormann, sounding more like a disappointed accountant than a diplomat.

The Fed, meanwhile, won’t be cutting rates until 2026 — or so says the OECD — unless inflation expectations suddenly implode. But don’t hold your breath.

The organisation also warned that fiscal pressures are mounting globally, with “enormous” demands for more defence, climate, and pension spending. Time, they suggest, to cut back on political vanity projects and widen the tax base. Cue laughter in Washington.

In short, Trump’s tariffs are hurting the world, the US is leading the race to the bottom, and the solution is clear — stop. But that assumes someone’s still listening.