https://www.taxtmi.com/news?id=45126 President Trump's trade measures and import taxes prompted a surge in imports as firms rushed purchases to avoid levies, materially lowering reported first quarter GDP because imports are subtracted in GDP accounting; consumer spending also slowed. The figure is a provisional estimate subject to revision, and the import spike is likely transitory so its effect on subsequent GDP may be limited. en-us Thu, 29 May 2025 18:31:04 +0530 Thu, 29 May 2025 18:31:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=45126 President Trump's trade measures and import taxes prompted a surge in imports as firms rushed purchases to avoid levies, materially lowering reported first quarter GDP because imports are subtracted in GDP accounting; consumer spending also slowed. The figure is a provisional estimate subject to revision, and the import spike is likely transitory so its effect on subsequent GDP may be limited. News - Thu, 29 May 2025 18:31:04 +0530 https://www.taxtmi.com/news?id=45126