Here’s how GDP shows tariffs are starting to take a toll

Businesses spent months stockpiling goods, but that importing spree is falling off.

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The much-anticipated report on the nation’s economy released Wednesday showed that the U.S. economy shrank during the first three months of the year — offering the first window into the widespread effects of the Trump administration’s tariff policies.

The sweeping tariffs, which have roiled global supply chains and international relations, have left an impression across nearly every part of the nation’s economy, the report shows. Businesses are stockpiling goods, causing imports to surge, and consumers are growing wary of spending too much money amid uncertainty about their financial futures.

The gross domestic product report, released by the Bureau of Economic Analysis, measures the value of goods produced in the country, providing a deep look at the health of the economy across a variety of sectors.

Here’s what you need to know about how tariffs are already affecting the U.S. economy.

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