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News in English (USA) / 01.05.2025 / 04:00

US Economy Shrinks Amid Trade Tensions and Policy Uncertainty

The US economy has unexpectedly contracted by 0.3% in the first quarter, marking the first GDP pullback in three years. This decline has raised concerns among investors, who are left with little clarity about the economic risks ahead. President Trump attributed the shrinking economy to the pressures of tariffs and previously blamed his predecessor, Joe Biden, for the downturn. Meanwhile, the surge in imports, driven by businesses anticipating tariffs, has compounded the economic challenges. As Trump continues to confront criticism over his trade policies, he urges patience from business leaders while expressing hope for a future economic boom.
Reuters, CNN, BBC, MSNBC News, The New York Times, Yahoo Finance, CNBC, WSJ, USA Today, The Washington Post