Shipping containers are seen ready for transport at the Guangzhou Port in the Nansha district in southern China's Guangdong province, April 17, 2025. (AP Photo/Ng Han Guan, File)2025-04-30T12:37:36Z The U.S. economy shrank at a 0.3% annual pace from January through March, first drop in three years. It was slowed by a surge in imports as companies in the United States tried to bring in foreign goods before President Donald Trump imposed massive tariffs.The January-March expansion in gross domestic product the nations output of goods and services was down from 2.4% in the last three months of 2024. Imports shaved 5 percentage points off first-quarter growth. Consumer spending also slowed sharply. Federal government spending plunged 5.1%.But business investment rose at a 21.9% clip as companies poured money into equipment. And a category within the GDP data that measures the economys underlying strength rose at a healthy 3% annual rate from January through March, up from 2.9% in the fourth quarter of 2024. This category includes consumer spending and private investment but excludes volatile items like exports, inventories and government spending. Trump inherited a solid economy that had grown steadily despite high interest rates imposed by the Federal Reserve to fight inflation. His erratic trade policies including 145% tariffs on China have paralyzed businesses and threatened to raise prices and hurt consumers. RSShttps://feedx.net https://feedx.site