{"id":147089,"date":"2025-05-31T15:11:08","date_gmt":"2025-05-31T15:11:08","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/147089\/"},"modified":"2025-05-31T15:11:08","modified_gmt":"2025-05-31T15:11:08","slug":"us-imports-plunge-in-early-sign-of-trump-tariff-impact-politico","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/147089\/","title":{"rendered":"US imports plunge in early sign of Trump tariff impact \u2013 POLITICO"},"content":{"rendered":"<p>The numbers are a sign that Trump\u2019s policies may be starting to chip away at the global trade deficit, which the president views as a key problem for the U.S. economy. And tariffs were not yet pushing prices higher for consumers in April, in a boon to Trump.<\/p>\n<p>\u201cI would argue this is exactly what the administration laid out, and this is so far what is playing out,\u201d Joe LaVorgna, the chief economist at SMBC Nikko Securities and a former Trump economic adviser, said on CNBC.<\/p>\n<p>Though the drop-off in spending could be an indication that the economy is slowing, taken together, the data \u201cultimately is not a warning sign for now, especially because wage growth was solid,\u201d said Kevin Gordon, a senior investment strategist at Charles Schwab. \u201cFor now, it\u2019s a voluntary constraining of the budget on the part of the consumer.\u201d<\/p>\n<p>It\u2019s too early to know where the trade deficit will settle over the long term. In May, the administration deescalated tensions with China, and there could be some recovery in commerce between the two countries as a result.<\/p>\n<p>Long-term tariff rates are also uncertain. The administration has been negotiating deals that were\u00a0<a href=\"https:\/\/www.politico.com\/news\/2025\/05\/23\/trump-tariff-trade-july-deadline-00366404\" target=\"_blank\" rel=\"noreferrer noopener\">already bogged down<\/a>\u00a0even before a federal court ruling called into question the legality of the bulk of Trump\u2019s tariffs. Now, talks with China are stalled, with Trump arguing in a social media post that Beijing had \u201cTOTALLY VIOLATED\u201d a deal negotiated in Geneva. And it\u2019s an open question whether the president would negotiate a tariff rate below the 10 percent floor he\u2019s placed on countries around the world.<\/p>\n<p>In the meantime, economists expect some tariff costs to begin showing up in official inflation data in the coming months. For now, the early effects have mostly appeared in gloomy business confidence reports and shrinking profit margins for producers.<\/p>\n","protected":false},"excerpt":{"rendered":"The numbers are a sign that Trump\u2019s policies may be starting to chip away at the global trade&hellip;\n","protected":false},"author":2,"featured_media":147090,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3090],"tags":[331,1194,51,6725,1395,2437,30,2814,32,1700,1195,475,476,1197,2452,182,479,1201,1219,5465,16,15,771],"class_list":{"0":"post-147089","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-banks","9":"tag-budget","10":"tag-business","11":"tag-central-banks","12":"tag-china","13":"tag-companies","14":"tag-courts","15":"tag-data","16":"tag-donald-trump","17":"tag-economy","18":"tag-growth","19":"tag-imports","20":"tag-inflation","21":"tag-investment","22":"tag-media","23":"tag-social-media","24":"tag-tariffs","25":"tag-trade","26":"tag-trade-war","27":"tag-u-s-economy","28":"tag-uk","29":"tag-united-kingdom","30":"tag-war"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114603090480793393","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/147089","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=147089"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/147089\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/147090"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=147089"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=147089"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=147089"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}