Of the first rather negative indicators. President Donald Trump, who has sworn to return The United States Righing, faced on Wednesday with figures showing a decline in the gross domestic product (GDP) of the country in the first quarter, while the American economy was still flourishing at the end of 2024.
The GDP, which measures the creation of national wealth, decreased in the first three months of the year covering the start of the second term of Donald Trump, whose customs policy has aroused a shock wave in the world and within his country.
In annualized pace, a measure favored by the United States, GDP contracted 0.3 %, according to data published Wednesday by the Ministry of Commerce. This represents a decline of 0.1 % compared to the previous quarter.
This result is significantly lower than the expectations of the majority of analysts who, however, anticipated a serious brake (+ 0.4 %) for the first world economy. “The drop in GDP in the first quarter first reflects an increase in imports, which are hidden from the calculation of GDP, as well as a drop in expenses of the federal state,” said the ministry in a statement. “These trends were partly offset by more investment, consumption and export expenditure,” he added.
The impact of customs duties?
The leap of purchases abroad results according to experts in the will of the companies to gain speed the taxation new customs duties And take advantage of the conditions prior to reshaping with the forceps of the economy initiated by Donald Trump.
The American economy was previously more than purring, with growth of 2.4 % in the last quarter of 2024 (annualized), full employment and inflation in the process of being mastered. According to another publication Wednesday morning, job creations in the US private sector have slowed heavily in April, displaying themselves below expectations.
Another indicator is expected during the day in the United States, the PCE, a index which serves both as an inflation and consumption gauge.
Faced with these first bad news, the New York Stock Exchange opened up sharply on Wednesday. In the first exchanges, the Dow Jones lost 0.70 %, the Nasdaq index fell 2.07 %and the enlarged S&P 500 index abandoned 1.35 %.
A first assessment for Trump
These data are published while the tenant of the White House celebrates the first 100 days of his second term started on January 20. On his Truth Social network, Donald Trump rejected any responsibility in the economic slowdown of his country.
“Our country will take off economically but first we have to get rid of Joe Biden’s balance. It will take a moment, it has nothing to do with customs duties, it is only that he left us with bad statistics, “wrote the American president, by enjoining his fellow citizens to” be patient !!! ».
Tuesday evening during a rally organized in Michigan, Donald Trump had further defended his protectionist offensive, according to him of a new economic “golden age”.
Since April, the executive has considerably increased customs duties on foreign products, and more than doubled the surcharge on those from China. Beijing retaliated by other customs duties, enough to slow down American exports, also targeted by boycott calls.
A devastating snowball effect is not excluded: consumers who meet their priorities, distributors with fewer things to sell, private transporters of goods to be conveyed, social plans …
