U.S. economy shrank 0.5% between January and March, worse than earlier estimates revealed

The U.S. economy contracted by 0.5% in the first quarter, a downgrade attributed to President Trump's trade wars and a surge in imports as companies rushed to avoid tariffs. This downturn reversed the previous quarter's growth, marking the first contraction in three years. Despite this, economists anticipate a rebound in the second quarter, projecting growth to reach 3%.