The Latest: Trade war prompts cuts to global growth forecast - News Summed Up

The Latest: Trade war prompts cuts to global growth forecast


Google is assuring users of Huawei smartphones the American company’s services still will work on them following U.S. government restrictions on doing business with the Chinese tech giant. (Ng Han Guan/Associated Press)BEIJING — The Latest on U.S. restrictions on sales to Chinese technology giant Huawei (all times local):6:00 p.m. The Organization for Economic Cooperation and Development has cut its forecast for world growth this year and warned about the impact of the escalating trade tensions. The organization, which advises industrialized nations on policy, said Tuesday it expects the global economy to grow 3.2% this year, down from its previous forecast of 3.3%. Washington says Huawei is a security threat and imposed imposing restrictions last week on technology sales to the company.


Source: Washington Post May 21, 2019 09:33 UTC



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