The US economy just had its worst quarter since 2022 as President Donald Trump’s significant policy changes unnerved consumers and businesses.
Gross domestic product, which measures all the goods and services produced in the economy, registered at an annualized rate of 0.3% in the first quarter, the Commerce Department said Wednesday.
That’s a sharp slowdown from the fourth quarter’s 2.4% rate.
The Trump administration has been on a chaotic tariff spree over the past several months, escalating trade tensions with China and unsettling Americans.
Most economists say Trump’s monumental bid to reshape global trade is likely to send inflation climbing in the United States and even trigger a recession.
This story is developing and will be updated.
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