Original link: U.S. economy shrank 0.3% in the first quarter as Trump policy uncertainty weighed on businesses / CNBC.
Very bad news. Q1 was just talk about tariffs. Q2 is actual tariffs. Two shrinking quarters is the definition of recession.
The explanation about import is BS. If import increase and replace domestic production that decrease, then that cause GDP to shrink, but import increasing bumping up stockpiles keeping domesitic production does not impact GDP.