OECD warns trade tensions threaten global economy

Steel exporters face import duties of 25pc in the US

Colm Kelpie

Escalating trade tensions are a serious risk to the global economy with the prospect of US steel and aluminium tariffs set to raise costs and harm consumers, a global economic think tank has warned.

In its latest assessment of the global economy, the Organisation for Economic Co-operation and Development (OECD) said the pace of growth over 2018 and 2019 is expected to be faster than in 2017.