In a post on X, Ukrainian President Volodymyr Zelensky talked about the scale Russian attacks on his country since Moscow's full-scale invasion in 2022.
"We are forecasting basically a downgrade for almost everybody," Alvaro Pereira, the OECD's chief economist told the BBC."We'll have a lot less growth and job creation than we had forecasted in the past."
The group also slashed the outlook for the US economy this year from 2.2% to 1.6% and predicted growth would slow again in 2026.It warned that the US was at risk from rising inflation, something that Trump repeatedly promised would fall during his presidential campaign.Prior to the release of the OECD report on Tuesday, Trump wrote on social media: "Because of Tariffs, our Economy is BOOMING!"
However, the most recent official data showed the US economy shrank at an annual rate of 0.2% in the first three months of this year, the first contraction since 2022.China says the US has "severely violated" their trade truce and that it will take strong measures to defend its interests.
China's Ministry of Commerce said Washington has "seriously undermined" the agreement reached during talks in Geneva last month, when both countries lowered tariffs on goods imported from each other.
The spokesperson added that US actions have also severely violated the consensus reached during a phone call in January between China's leader Xi Jinping and President Donald Trump."When President Trump raised import duties by 25% for one-and-a-half years of his first mandate, we lost about $600m [£450m] very quickly," says Jerome Bauer, president of the French National Wines and Spirits Confederation.
"But back then Champagne wasn't included, and neither were wines stronger than 14 degrees of alcohol. So you can see the scale of the threat today."The solution Mr Bauer is backing is free trade. No tariffs. But you'd expect him to say that, given that France and Europe run a big trade surplus with the US when it comes to wines and spirits.
More surprising, perhaps, is the opinion of his American competitors in California and Oregon who, you might think, would be cracking open something a bit special to celebrate."This looks horrible from our perspective. We don't like it one bit," says Rex Stults, vice-president of industry relations at Napa Valley Vintners, which represents 540 wineries in the sunny slopes of California's most famous wine region.