President Trump's trade war is causing the global economy to slow, with growth now heading for its weakest pace since the COVID-19 pandemic, the OECD warned on Tuesday. The OECD cut its forecasts for most G20 economies and warned that easing trade tensions is key to boosting investment and keeping prices stable.

President Donald Trump’s ambitious plan to broker dozens of trade deals with some of the United States’ closest trading partners has begun to show cracks as the clock on his 90-day pause for most country-specific tariffs winds down to just over one month.

Global economic growth is set to be slower this year largely because of Donald Trump's US tariffs, according to a leading international policy group. Worldwide growth is now expected to slow to a "modest" 2.9%, down from a previous forecast of 3.1%, said the Organization for Economic Co-operation and Development (OECD).

World output will cool to 2.9% in 2025 and 2026 from 3.3% last year, the Paris-based OECD said in a report Tuesday, with the U.S. among the worst hit.

Wall Street's main indexes were mixed on Monday after President Donald Trump said he plans to double tariffs on imported steel and aluminum, fueling more uncertainty around U.S. trade policies. Trump said late on Friday he planned to increase tariffs on imported steel and aluminum to 50% from 25% starting Wednesday,

Shares of several major U.S. steel companies jumped Monday after President Trump said he would hike tariffs to 50%.

Trump announced at a Pennsylvania rally on Friday that he plans to double tariffs on steel imports to 50% from 25%.

President Donald Trump and Chinese leader Xi Jinping will likely speak this week, White House press secretary Karoline Leavitt said on Monday, days after Trump accused China of violating an agreement to roll back tariffs and trade restrictions.

U.S. President Donald Trump and Chinese President Xi Jinping will speak soon to iron out trade issues including a dispute over critical minerals, Treasury Secretary Scott Bessent said on Sunday.