US economy backtracked in first quarter as Trump tariffs loomed

Apr 30, 2025 - 10:01
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US economy backtracked in first quarter as Trump tariffs loomed
U.S. gross domestic product (GDP) shrank during the first quarter of 2025 as a surge of imports ahead of President Trump’s tariffs took a bite out of economic growth calculations. U.S. GDP fell at an annualized rate of 0.3 percent during the first three months of the year, according to data released Wednesday by the…

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