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ECB to cut rates again as the case builds for a summer pause

ECB to cut rates again as the case builds for a summer pause

The New York Times

The New York Times

Imports Plummet in April as Trump’s Tariffs Weigh on Trade

Thu, 05 Jun 2025 16:08:19 GMT
Imports Plummet in April as Trump’s Tariffs Weigh on Trade

Mr. Zandi added that a smaller trade deficit would likely result in higher gross domestic product in the second quarter, since a trade deficit is subtracted from that figure. But he cautioned that the tariffs would still have negative consequences for American consumers and the economy.

“The higher U.S. tariffs have severely disrupted global trade, which will soon show up as higher prices for many of the goods Americans buy, weighing heavily on their purchasing power and spending, and by extension, the broader economy,” he said.

Trump officials have been seeking to lower the U.S. trade deficit, which measures how much more the United States imports than it exports. To the president and his advisers, the trade imbalance is evidence that the United States is importing too much, and needs to produce more of its own goods in American factories. Mr. Trump and his advisers argue that this will enrich the U.S. economy and strengthen national security.

But many economists have taken issue with the president’s focus on the trade deficit as a scorecard for the relationship, arguing that it can fluctuate for many reasons, both good and bad.

Many economists agree that the United States is too dependent on countries like China for critical manufacturing. But they caution that trade strengthens the U.S. economy and that imports are also linked with American jobs.

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