The first quarterly economic report since the Trump administration’s tariff policies were introduced has revealed that the US economy contracted during the first three months of the year. This marks a significant impact from the tariffs, which have disrupted global supply chains and international relations. Businesses are increasing stockpiling goods to prepare for potential shortages, leading to a surge in imports. Additionally, consumers are becoming increasingly cautious about spending due to uncertainty over their financial futures.
Source: https://www.washingtonpost.com/business/2025/04/30/gdp-tariff-economy-consumer-spending