Trade War: US Economy Shrinks 0.3%

AMERICAN businesses are cancelling orders from China, postponing expansion plans and hunkering down to see what trade policy surprises President Donald Trump plans to spring on them next.

- PRESS TRUST OF INDIA @ Washington

Massive and unpredictable taxes on imports seem likely to mean emptier shelves and higher prices for the US shoppers, perhaps within weeks. The higher costs and paralysing uncertainty could exact an economic toll: US consumers are in the biggest funk since COVID-19 hit five years ago, and economists say recession risks are climbing.