TechFlow news — On January 9, according to Jinshi News, Arend Kapteyn, Chief Economist at UBS Group, said that tariffs represent the biggest risk facing the global economic outlook. UBS forecasts that global economic growth this year will slow to 2.9%, down from around 3.2% in 2024. If Trump continues to implement the tariff policies he proposed during his campaign, it could bring "the level of U.S. trade restrictions back to a level not seen since the mid-1930s."
He added, "If these tariffs are indeed imposed, our forecast would face significant additional downside risks." However, Kapteyn expressed skepticism about whether these global tariffs would actually be implemented, as they would be legally complicated.
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