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Global growth rate could drop by more than a quarter thanks to tariffs, S&P chief economist forecasts

June 4, 2018


Global gross domestic product (GDP) growth could take a hit to the order of around one percent if tariff threats escalate into a trade war, S&P Global’s chief economist forecast Monday.

It may not be a global recession, but “one could imagine a scenario where rather than global growth in the threes we have global growth in the twos, where you get the U.S. and Europe and China all pulling back at the same time,” said Paul Gruenwald, chief economist at analytics firm S&P Global, speaking to CNBC’s “Squawk Box Europe.”

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