US economy shrinks 0.3% in first quarter amid tariffs and trade wars

The US economy shrank at an annual rate of 0.3% in the first quarter, according to early Commerce Department estimates, as businesses battle with sweeping tariffs and trade wars causing uncertainty.

May 7, 2025 - 11:04
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US economy shrinks 0.3% in first quarter amid tariffs and trade wars
The US economy shrank at an annual rate of 0.3% in the first quarter, according to early Commerce Department estimates, as businesses battle with sweeping tariffs and trade wars causing uncertainty.