The world economy will lose pace this year, hamstrung by uncertainty stemming from whipsawing U.S. trade policy, according to OECD forecasts.

(Reuters) -Chicago Federal Reserve President Austan Goolsbee on Tuesday said higher inflation from U.S. import tariffs could become evident quickly, but he said it would take longer to see a tariff-induced economic slowdown.

President Donald Trump’s trade war will wreak greater economic damage than previously expected, both in the United States and everywhere else, according to new forecasts by the Organisation for Economic Co-operation and Development.