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Tag: international trade litigation
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.