New Delhi, May 16 -- Global economy is at a precarious moment following heightened trade tension, the United Nations has warned.
Heightened trade tensions along with policy uncertainty have significantly weakened the global economic outlook for 2025, the Department of the Economic and Social Affairs of the United Nations said in a report.
"Higher tariffs resulting in a significant increase in the effective tariff rate in the United States are likely to strain global supply chains, drive up production costs and delay critical investment decisions while also contributing to financial market volatility,'' the mid-year report 'World Economic Situation and Prospects-2025' says.
It says global economic growth is now projected to slow to 2.4 p...