The rough fiscal-stimulus outline offered by President-elect Donald Trump could lift U.S. economic growth to 2.3% in 2017, the Organization for Economic Cooperation and Development said Monday. That’s up from the Paris-based OECD’s projection for 1.9% growth in 2017 sans Trump plans. The OECD projected a growth boost to 3%, from 2.2%, in 2018. Trump pledged to add $1 trillion to U.S. infrastructure but has yet to provide details on how those proposals would be financed. He has also promised corporate and personal income-tax cuts. The OECD now pegs global economic growth at 3.3%, up from 3.2%, in 2017, and lifted its outlook to 3.6%, from 3.3%, for 2018. The OECD said the biggest risk to its outlook hinges on a shift toward protectionism, especially pledged U.S. tariffs on imports from China and Mexico, which could offset the boost from higher government spending and lower taxes. The OECD is the first international economic policy agency to publish an estimate of the likely impact of Trump’s proposals.
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