The US economy is also expected to slow significantly. The US growth is expected to be 1.4% in 2025. This is half the pace of the previous year. The World bank did not mention donald trump by name, but it pointed to the increase in trade barriers, including new tariffs on imports from many countries. This is also a major cause of the economic slowdown.
These trade measures have increased the price of goods in the United States. They have also triggered tariff retaliation from other countries, further affecting the global trade movement. Indermit Gill, the World Bank's chief economist, said about this, "The global economy is once again in turmoil. If not corrected in time, people's living standards will suffer a major blow." On the other hand, a case was filed in the country's court against Trump's taxes. When the case came to trial, the court said that trump had the right to impose taxes. In the case filed against Trump's taxes, it was said that he exceeded his authority and imposed taxes. The US court of Appeals in Washington, which heard the case, said, "The taxes on Canada, china and mexico were the government's decision. It cannot be stopped." The appeals court has not yet ruled on whether the tariffs can be allowed under the Emergency Economic Powers Act. But the court said the tariffs will remain in effect while the appeals are ongoing.Given the importance of the case, the court announced that a full panel of 11 judges would hear the appeal instead of a three-judge panel. The court plans to hear arguments on July 31. trump said the tariffs were imposed to prevent Canada, china, and mexico from illegally smuggling fentanyl across the US border. The three countries have denied this. He also noted that the tariffs were imposed on all trading countries to address the US trade deficit.
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