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 2.9%, down from a previous forecast of 3.1%, said the Organization for Economic Co-operation and Development (OECD).

US states and small businesses that won a ruling that most of President Donald Trump’s global tariffs are illegal want them blocked during the administration’s appeal, saying they’re suffering immediate harm from economic uncertainty around the levies.