Overview

• Senior Trump administration officials are reportedly hoarding basic goods and cash, anticipating sharp price increases due to ongoing tariffs.
• The U.S. economy contracted in the first quarter for the first time in three years, driven by trade disruptions and market volatility.
• Domestic auto manufacturers project billions in losses as tariffs on Chinese imports reach as high as 145%, straining supply chains and operations.
• Vice President JD Vance cast a tie-breaking vote to block a bipartisan Senate effort to condemn the tariffs, reflecting fractures within the Republican Party.
• President Trump and his administration continue to defend the tariffs, with Trump predicting future economic prosperity despite mounting economic indicators to the contrary.