Donald Trump’s combative trade policies have tipped the world economy into a downturn clouded in heightened uncertainty, with the US among the hardest hit, the OECD said.

Economic growth will slow this year and next as the trade war hampers development in the United States and around the world, the Organization for Economic Cooperation and Development said.

SYDNEY (Reuters) -Australia's central bank said on Tuesday that higher U.S. tariffs would drag on the global economy and put near-term downward pressures on prices of traded goods, though the exact impact is hard to assess given the policy uncertainties.