New data on trade deficits is emerging, offering a clearer picture of the impact of recent economic measures. The narrowings in trade deficits in April signal growth to be higher in the second quarter than initially predicted. Moreover, the labor market remains solid according to last week’s jobs report.
However, an analysis of these data suggests that the administration’s aggressive new tariffs may only be affecting hard-to-measure indicators at present. As costs accumulate and become more apparent, the true consequences of these measures will become clear in due time.
Source: https://www.bloomberg.com/opinion/articles/2025-06-10/us-tariffs-are-falling-victim-to-trump-s-trade-policy-chaos