The World Bank has warned that global economic growth will be the slowest in six years this year amid concerns that U.S. tariffs will hit trade.

Barring a sharp contraction at the height of the coronavirus pandemic, 2.7% growth would be the weakest performance since 2019.

World Bank deputy chief economist Ahan Coase said this was an interest rate that the world could "accept" but would not be enough to improve living standards for people in both rich and poor countries.

He warned that President-elect Donald Trump's threats to impose trade tariffs on U.S. imports could have an impact on the global economy.

The prospect of higher tariffs on U.S. imports worries many world leaders because it would make it more expensive for companies to sell goods in the world's largest economy.

Tariffs are a central part of Trump's economic vision - he sees them as a way to grow the U.S. economy, protect jobs and raise taxes - and threaten to impose them on China, Canada and Mexico on his first day in office next week tariff.

The United States is the world's largest importing country. China, Mexico and Canada account for about 40% of the $3.2 trillion (£2.6 trillion) of goods it imports each year, according to official figures.

Goss said that "escalating trade tensions among major economies" is one of the bank's biggest concerns about the global economy in 2025. The World Bank's goal is to promote long-term economic development.

Other concerns include interest rates remaining high for an extended period and increased policy uncertainty eroding business confidence and investment.

The World Bank said that if countries do not take retaliatory measures, even if the United States increases import tariffs by 10% on each country, it will reduce global economic growth by 0.2%. If they do, the global economy could be hit even harder, Goss added.

"Any time trade restrictions are imposed there are adverse consequences, and the countries that impose them often suffer the consequences," he said.

Gauss said lower world economic growth is expected in 2025, meaning living standards will not improve "at the rate we have seen in the past."

He pointed out that in the ten years before the epidemic, the average annual growth was more than 3%.

"When you look at longer time periods, we think the growth numbers are going to come down. That worries us," he added.

Economic growth is widely seen as fundamental to reducing poverty and financing public services such as health care and education.

It is also key to creating jobs and raising wages at a time when inflation remains above the 2% target set by central banks in the euro zone, Britain and the United States.

Governments around the world are trying to find different ways to boost economic growth, and Goss warned there are no magic solutions.

"The bottom line is there is nothing wrong with economic growth. Countries need to think about what policies to implement," he said.

In the UK, the government is Looking forward to the artificial intelligence industryIn the United States, Trump wants tax cuts and regulations.

Expanding manufacturing capabilities is India's top priority, but China is taking steps Increase consumer spending.