His administration's tariffs, including a staggering 145% on Chinese imports, have sparked global backlash and retaliatory measures, contributing to economic uncertainty.

Financial markets have experienced volatility since Trump took office, largely attributed to his economic policies and the uncertainty surrounding his tariff strategies.

As global uncertainty continues, including Trump's reemergence in politics, Australia voted to maintain Prime Minister Anthony Albanese's leadership.

Critics, including economists, argue that the economic downturn is politically driven and warn that without reversing tariffs, a recession could be imminent.

In the first quarter, imports surged by 41%, the highest increase since 1972, as companies rushed to stockpile goods ahead of the tariffs, although this artificial demand may not sustain.

The Footwear Distributors & Retailers of America has requested tariff exemptions for American shoe companies, citing existential threats due to rising costs.

Legal challenges against Trump's tariffs are escalating, with multiple lawsuits claiming he has exceeded his authority, complicating enforcement efforts.

President Donald Trump remains optimistic about his economic policies, asserting they will lead to a thriving U.S. economy despite recent data indicating a contraction in the first quarter of 2025.

The U.S. economy shrank for the first time in three years, as reported on May 1, 2025, prompting Trump to blame President Biden for the downturn.

Trump's aggressive trade policies, particularly the imposition of tariffs on imports, have been linked to economic challenges, as businesses hoarded goods and consumer spending slowed.

Despite rising consumer prices linked to tariffs, Trump suggested families could simply purchase fewer goods, indicating a dismissive attitude towards potential shortages.

Democratic leaders have directly attributed the economic struggles to Trump, with House Minority Leader Hakeem Jeffries stating, 'This is your economy - a failed economy.'