Reported about 9 hours ago
In March, the U.S. goods trade deficit widened to a record $162 billion as businesses imported more merchandise ahead of looming tariffs from the Trump administration. This sharp increase suggests a substantial negative impact on first-quarter economic growth, with economists estimating trade could have reduced GDP growth by up to 1.9 percentage points. While imports surged, particularly in consumer goods, industrial supplies saw a decline, and overall economic growth is projected to slow significantly amidst ongoing tariff uncertainties.
Source: YAHOO