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Tag: executive trade authority
Trump Deflects Blame as First Economic Contraction of Presidency Sparks Backlash
On April 30, 2025, Reuters reported that the U.S. economy had contracted in the first quarter of the year, marking the first such decline since the COVID-19 pandemic era. The contraction, clocking in at an annualized 0.3%, came amid President Donald Trump’s renewed trade-focused economic policy, specifically a resurgence of tariff impositions on foreign imports. Occurring within his first 100 days of a historic non-consecutive second term, Trump’s aggressive return to protectionist trade tactics reflects broader legal and policy challenges in modern U.S. governance.
GDP Contracts for First Time in 2025 as U.S. Faces Deepest Trade-Induced Slump Yet
In early 2025, the United States economy experienced its first contraction since the height of the COVID-19 pandemic, with gross domestic product (GDP) shrinking by 0.3% in the first quarter. While several factors may contribute to economic fluctuations, this downturn occurred against the backdrop of a bold and aggressive trade policy initiative: the reimposition and expansion of tariffs under the renewed administration of President Donald J. Trump. Characterized by nationalist economic rhetoric and sweeping executive action, the new trade agenda triggered both domestic economic disruption and international diplomatic unease.
Breaking News: U.S. Trade Policy Shifts Spark Global Market Rally Amid Mounting Legal and Economic Tensions
The global financial landscape has entered a period of heightened volatility, with markets responding swiftly to the U.S. administration's announcement of softened auto tariffs. According to Reuters, President Donald Trump's government has indicated a strategic pivot from its aggressive tariff policy, a decision that buoyed global equities and strengthened the dollar (Reuters, April 29, 2025).