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Trump's Economy Falters: GDP Down, UPS Cuts 20,000 Jobs

5/6/2025

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Summary

Story summary

Donald Trump's inaugural quarter in office witnessed a surprising 0.3% GDP decline, largely due to his controversial tariffs, undermining his narrative of economic triumph. Meanwhile, UPS revealed plans to cut 20,000 jobs, a stark reminder of the economic struggles fueled by decreased shipping from Amazon. In contrast, economists laud Biden's administration for fostering robust job growth and aiding recovery from the pandemic.

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Story summary

Donald Trump's inaugural quarter in office witnessed a surprising 0.3% GDP decline, largely due to his controversial tariffs, undermining his narrative of economic triumph. Meanwhile, UPS revealed plans to cut 20,000 jobs, a stark reminder of the economic struggles fueled by decreased shipping from Amazon. In contrast, economists laud Biden's administration for fostering robust job growth and aiding recovery from the pandemic.