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Trump promised a 'golden age' for the economy. Then he unveiled tariffs
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A truck is about to cross the Ambassador Bridge in Windsor, Ontario to go to Detroit, Mich. on Feb. 3, 2025. The economy shrank in the first quarter of the year as President Trump's tariffs, including on Canada, are sparking recession fears. Jeff Kowalsky/Getty Images hide caption
toggle caption Jeff Kowalsky/Getty ImagesAs President Trump marks his 100th day in office this week, there's not much to celebrate about the U.S. economy.
Economic output is shrinking. The stock market has dropped sharply. And consumer confidence has tumbled to its lowest level since the onset of the COVID-19 pandemic.
That hardly looks like the new "golden age" the president promised on Inauguration Day just over three months ago.
Figures released by the Commerce Department Wednesday show that the United States' gross domestic product contracted at an annual rate of 0.3% in the first quarter of the year, after growing at a solid pace of 2.4% in the final months of 2025.