US Economy Shrinks in Q1 as Jobs and Prices Remain Steady
The US economy contracted for the first time in three years during the first quarter, contradicting President Donald Trump’s claims of a successful start to his second term. The decline was largely due to increased imports, driven by corporate America’s efforts to prepare for upcoming tariffs.
While the job market has remained stable, and inflation has shown signs of stabilization, the overall economic outlook is growing increasingly concerning. Surging imports are seen as a major factor in the first-quarter contraction, indicating that the economic effects of Trump’s policies may be more severe than initially anticipated.
Source: https://www.bloomberg.com/news/features/2025-04-30/trump-scorecard-charting-his-first-100-days-in-office