Citi: Tariff Suppression Effects May Fully Emerge in the Second Half, Global Economic Growth May Slow to 2.3%
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Citi economists noted in a report that due to the impact of tariffs, global economic growth is expected to slow from 2.8% in 2024 to 2.3% in 2025. The bank's economists stated: "Part of the reason for the resilience of the global economy is that U.S. tariffs have only been implemented gradually, so the full impact of their suppressive effect has yet to be seen." They indicated that the full impact might become apparent in the second half of this year.
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