The World Bank on Tuesday reduced its outlook for both global and U.S. economic growth this year, citing disruptions to global trade stemming President Trump’s trade war.

Global growth in 2025 is expected to fall to 2.3 percent from a 2.7-percent projection made last year. The outlook for U.S. growth fell to 1.4 percent from 1.8 percent.

The international financial agency said its current outlook represents the weakest pace for global output since 2008, not counting recessions, and that the downturn is coming primarily from new trade barriers and policy changes.

“The sharp increase in tariffs and the ensuing uncertainty are contributing to a broad-based growth slowdown and deteriorating prospects in most of the world’s economies,” economists for the World Bank wrote.

The policy changes are translating into hesitancy among both businesses and consumers, the economists said, something that’s been........

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