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.

President Trump’s trade war is expected to slow growth in the world’s leading economies, including the United States, this year and in the years to come, unless world leaders can resolve their differences over trade.

The Organization for Economic Cooperation and Development slashed its outlook for global output to 2.9 percent this year, from 3.3 percent in 2024, the organization said in its economic report released on Tuesday.

Economic growth in the United States is expected to be particularly weak, the organization said, rising 1.6 percent this year, a drop from the 2.2 percent projected in March, and 1.5 percent in 2026, down from its previous estimate of 1.6 percent. The U.S. economy grew 2.8 percent in 2024.

“Through to the end of 2024,