US economy shrinks 0.5% in Q1 as import surge, Trump’s tariff threats weigh on growth

US economy shrinks 0.5% in Q1 as import surge, Trump’s tariff threats weigh on growth

The US economy contracted more than previously estimated in the first three months this year, according to government data released Thursday, with consumer spending and exports weaker than expected.

U.S. President Donald Trump. Image- AFP