UBS: Trump's tariffs are the biggest risk to the global economic outlook

ChainCatcher news, UBS Group's chief economist Arend Kapteyn stated that tariffs are the biggest risk facing the global economic outlook. UBS predicts that global economic growth will slow from about 3.2% in 2024 to 2.9% this year. If Trump continues to implement the tariff policies he proposed during his campaign, it could bring "the level of trade restrictions in the U.S. back to levels we haven't seen since the mid-1930s." He added, "If these tariffs are really imposed, there could be a lot of additional downside risks to our forecasts." However, Kapteyn is skeptical about whether global tariffs will be implemented, as it is legally complicated.