NowGazer

The U.S. economy experienced a 0.3% annualized contraction in the first quarter of 2025, primarily due to a surge in imports ahead of new tariffs announced by President Donald Trump. This unexpected downturn has raised concerns about the potential for a broader economic slowdown. President Trump attributed the decline to the “Biden Overhang,” asserting that his administration’s policies will soon lead to an economic boom. Meanwhile, Wall Street reacted negatively, with the Dow Jones Industrial Average dropping over 400 points. ​WSJ+2Reuters+2New York Post+2New York Post