Reported about 22 hours ago
In recent economic data, imports to the U.S. fell by 20% in April, marking the steepest decline since 1992, which might signal potential shortages and rising inflation, reminiscent of COVID-era shopping conditions. This drop follows President Trump's significant tariff increases on imports, prompting businesses to stock up but risk future price hikes as inventories deplete. With ongoing trade negotiations and a looming July 9 deadline set by Trump, uncertainty prevails, as economists warn of the potential impact on manufacturers and consumers, while Trump remains optimistic about the economy.
Source: YAHOO