According to AFP, President Donald Trump’s broad new tariffs caused a surge of imports, which slowed growth and caused the US economy to unexpectedly contract in the first quarter of 2025.
However, the president shifted the responsibility by claiming that former President Joe Biden was responsible for planting the seeds of the recession.
The US Commerce Department said that between January and March, GDP shrank at an annualized rate of 0.3%, far less than the 0.4% increase forecast.
After a 2.4% expansion in the last few months of 2022, it was the first quarterly decrease since 2022.
