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US economy contracts 0.3% in Q1 2025; Donald Trump blames it on Biden 'Overhang’

IndiaTimes Wednesday, 30 April 2025 ()
The US economy unexpectedly contracted by 0.3% in the first quarter of 2025, falling short of expectations. This downturn is attributed to a surge in imports ahead of President Trump's new tariffs and a deceleration in consumer and government spending. While Trump blames Biden, his advisor cites pre-tariff import activities as the cause.
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News video: US Economy Shrinks for First Time in 3 Years; Trump’s Shock Policies Under Fire Amid Recession Fear

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