Trump faces crucial week on economy
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New York Magazine |
Donald Trump has made tariffs a staple of his second term, levying a flurry of taxes on foes and neighbors alike as an extension of his “America First” mantra.
Reuters |
President Trump made it more so by telling reporters on Air Force One that the levies would cover all countries and not just a select few.
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As the first quarter comes to a close, there's an uncomfortable picture becoming clear in the data: The economy is going through a growth slowdown paired with an inflation surge. Why it matters: As the White House plots a major escalation of tariffs next week,
Consumer sentiment has taken a significant hit since the start of 2025. The University of Michigan Consumer Sentiment Index fell for the third consecutive
Asia's factory activity mostly weakened in March as an intensifying U.S. tariff war and slowing global demand hurt business sentiment, private sector surveys showed on Tuesday, darkening the outlook for the region's economy.
Trump has repeatedly referred to April 2 as "liberation day," saying a wide-ranging slate of reciprocal tariffs would rebalance U.S. trade relationships. Trump's plan for reciprocal tariffs next week, however, is expected to be narrower than he previously vowed, though the plan remains under discussion, sources told ABC News this week.
Reaction to the chancellor announcing billions in cuts and gloomy economic forecasts dominate the front pages.
The Indian rupee is set to open higher on Wednesday following weak U.S. consumer confidence data that heightened anxieties regarding the U.S. economic trajectory.
American consumers continue to downgrade their expectations for the US economy as worries about the labor market and inflation are both on the rise.
January and February data out of China hae beat expectations and real GDP growth is tracking slightly over 5%, according to Goldman Sachs.
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