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US economy shrinks 0.3% as companies race to get ahead of Trump tariffs
This was driven by a drop in government spending and a surge in imports - which count against growth - as firms raced to get good into the country ahead of tariffs. Today's report is the most comprehensive reading of how the world's largest economy is holding up following the introduction of import taxes by President Donald Trump,
US economy contracts at 0.3% rate as Trump tariffs prompt import surge
The US economy contracted by an annualised 0.3 per cent over the first quarter, as companies in the world’s largest economy responded to Donald Trump’s trade war by stockpiling imports. The slide in GDP for the period was worse than economists’ most recent forecasts and compared with the 2.
Risks are high that the global economy will slip into recession this year, according to a majority of economists in a Reuters ...
The World Bank said it expects commodity prices to fall sharply this year and next as rising tariffs lead to a slowdown in ...
Zanny Minton Beddoes, editor-in-chief of The Economist Magazine, discusses tariffs, U.S. economic outlook and a moment of ...
The dollar is on pace for its worst performance during the first 100 days of a US presidency since Richard Nixon was in the ...
U.S. stock futures edged lower and markets in were up in early trading even as Volkswagen, Mercedes-Benz and Stellantis ...
Three countries rank higher than California in GDP: the United States, China, and Germany.
California is the fourth-largest economy in the world, Governor Gavin Newsom said on Wednesday.
Participants at the I.M.F and World Bank meetings this week reckoned with the prospect that the U.S. safe haven could lose ...
California is now the fourth-largest global economy, with the state's governor using that to attack Trump's tariff policy.
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