President Trump's trade war is causing the global economy to slow, with growth now heading for its weakest pace since the COVID-19 pandemic, the OECD warned on Tuesday. The OECD cut its forecasts for most G20 economies and warned that easing trade tensions is key to boosting investment and keeping prices stable.

President Donald Trump’s ambitious plan to broker dozens of trade deals with some of the United States’ closest trading partners has begun to show cracks as the clock on his 90-day pause for most country-specific tariffs winds down to just over one month.

Economic growth will slow this year and next as the trade war hampers development in the United States and around the world, the Organization for Economic Cooperation and Development said.

Global economic growth is set to be slower this year largely because of Donald Trump's US tariffs, according to a leading international policy group. Worldwide growth is now expected to slow to a "modest" 2.9%, down from a previous forecast of 3.1%, said the Organization for Economic Co-operation and Development (OECD).

World output will cool to 2.9% in 2025 and 2026 from 3.3% last year, the Paris-based OECD said in a report Tuesday, with the U.S. among the worst hit.

By Eric Onstad, Hyunjoo Jin and Hongmei Li LONDON/SEOUL/SINGAPORE (Reuters) -U.S. prices of steel and aluminium spiked on Monday while shares of foreign steelmakers slumped after U.S. President Donald Trump said he would double tariffs on imports of the two metals to 50%.