Donald Trump’s tariff wars deal a blow! US economy shrinks 0.5%; worse than estimates
The US economy shrank by 0.5% on an annual basis in the first quarter of 2025, as President Donald Trump’s trade war prompted a rush of imports, disrupting businesses, the commerce department announced on Thursday.This unexpected sharp downgrade from an earlier estimate of a 0.2% decline, reflects the economic fallout from Trump’s trade policies, which…