The US economy recently experienced a decline, sparking uncertainty amidst President Trump's policy changes. The stock market reacted negatively following the news.
The country's gross domestic product shrank at an annual rate of 0.3% in the first quarter due to increased imports ahead of announced tariffs. Trump and Biden allies are at odds over the economic impact.
Despite the decline, there are signs of economic growth under Biden, with inflation rates cooling in March. Consumer spending has remained strong, offering a mix of positive and negative economic news.
Experts are divided on the implications of the GDP report, with some blaming the decline on import-driven factors. Both Trump and Biden allies are positioning their economic strategies amidst the ongoing economic challenges.
Overall, the economic outlook remains uncertain, with investors closely monitoring the situation for potential opportunities and risks.