Steve Forbes de Forbes joins the panel of The Big Money Show ‘to talk about the international implications of the increase in trade tensions between the United States and China.
The American economy contracted in the first quarter as president Donald Trump The economic agenda has entered into force, according to new data published on Wednesday.
The Bureau of Economic Analysis (BEA) of the Department of Commerce published its prior estimate for the gross domestic product in the first quarter (GDP), which found the The American economy has taken place At an annual rate of 0.3% in the first quarter, which takes place from January to March.
Economists interviewed by LSEG expected the economy to increase at a rate of 0.3% during the quarter. The 0.3% of the first quarter was slower than the 2.4% GDP growth Recorded in the fourth quarter.
The drop in GDP was mainly assigned to an increase in imports, which counts as a subtraction in the calculation of GDP, as well as a decrease in public spending. These changes were partially offset by the increase in investment, consumer spending and exports.
The increase in imports was motivated by consumer goods, mainly pharmaceutical goods, medicines and vitamins; and by equipment such as computers and parts. The rise in imports was partly motivated by the importers of pre -order products in order to have President Trump’s prices beat.
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