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SHOCKING SLUMP: US IMPORTS PLUMMET BY 19.8% – A RECORD CRASH!
Economic Turmoil Hits Hard as Trump’s Tariffs Create CHAOS!
Buckle up, folks! April brought an unprecedented disaster for US imports, plummeting a jaw-dropping 19.8%—the biggest drop in recorded history! That’s right! Thanks to President Donald Trump’s explosive tariffs, companies are hitting the brakes on shipments like never before!
In the latest shocking report from the Census Bureau, we learn that imports crashed down to $276.1 billion. Just a month earlier, March had traders scrambling to stockpile foreign goods ahead of what Trump dubbed “liberation day” tariffs on April 2. But now? A dismal turnaround that no one saw coming!
Consumers Are TIGHTENING THEIR BELTS!
As if that wasn’t enough, American shoppers are pulling back their spending plummeting from a growth rate of 0.7% in March to a mere 0.2% in April. What does this mean? A grim picture of caution is waving through the nation’s economy as uncertainty reigns.
Tremors in Trade: The Numbers Don’t Lie!
This catastrophic dive reveals just how much Trump’s tariffs are shredding our international trading relationships! Companies scrambling for last-minute imports before the tariff deadline caused an economic shrinkage of 0.2% in the first quarter—a blistering wake-up call and the first contraction since 2022!
Crisis for Consumer Goods – A 32% NO-GO!
Consumer products are taking the brunt of this economic slap, plummeting a shocking 32% to $69.6 billion in April! Industrial supplies are down 31% to $51.8 billion, while automotive imports are stalling at a 19% drop to $33.6 billion!
The Confusing Tariff Tangle!
Now importers are caught in an unforgiving web of steep levies on foreign goods, including those hefty Chinese tariffs. Just two weeks ago, the US struck a “temporary” deal with China, but hold the applause! Trump is back on his soapbox claiming Beijing has “TOTALLY VIOLATED ITS AGREEMENT WITH US.” Chaos is the name of the game!
A US trade court ruled that “liberation day” tariffs were illegal, but you guessed it—a subsequent appeals court decision allows them to stay in play! Talk about a rollercoaster ride!
Get ready for more economic fireworks as the situation develops! Will America pull through this storm? Stay tuned!
photo credit: www.ft.com
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