By Isabella Torregiani
2:55am PDT, Jun 12, 2025
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The World Bank has backed President
Donald Trump's claims that the United States has been facing unfair trade practices from foreign nations.
In a newly released report, the global financial institution urged other countries to scale back their tariffs on American exports.
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The World Bank, tasked with financially supporting low and middle-income countries, agreed with President Donald Trump's stance that the U.S. lacks equal access to many global markets.
"This favorable access to the U.S. market could not be sustained indefinitely," Indermit Gill, the bank's chief economist, said during a news briefing.
The bank cited Trump's tariff policies as a big factor behind lowered global growth forecasts, highlighting the economic uncertainty surrounding international trade.
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Indermit Gill seemingly agreed with President Donald Trump's position: that the U.S. was responding to a lack of reciprocity in trade relationships.
"If they charge us, we charge them," Trump reportedly said in February. "If they're at 25 [percent], we're at 25. If they're at 10, we're at 10. And if they're much higher than 25, that's what we are, too."
In April, Trump imposed new tariffs on a number of countries — only to suspend them a week later in hopes of negotiating trade agreements within a 90-day window.
With the July deadline quickly approaching, the U.K. remains the only country to have reached a new deal.
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Other World Bank economists supported Indermit Gill's assessment, calling out Europe, Japan and China as important players that should reduce trade barriers on U.S. goods.
In its revised forecast, the World Bank slashed its 2025 U.S. growth projection from 2.3% to 1.4%.
If that outlook holds true, it would mark the country's weakest annual GDP growth since the Great Recession, excluding the pandemic years.
