US Fed: Trade war is holding back global growth

The trade war between the US and China has cut 0.8 percentage points off global growth, assesses the US Federal Reserve.

Photo: Nicolas Asfouri/AFP / AFP

Uncertainty caused by the ongoing trade war is holding back 2019's global economic growth and will likely continue to do so next year, concludes an analysis by the US Federal Reserve, writes Bloomberg News.

The bank's calculations show that the trade war accounted for a 0.8-percentage-point drop in global economic growth by the end of the first half the year.

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