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US economy in Q1 shrinks amid new tariff policies; US reportedly actively engaging with China through multiple channels

2025-05-01 09:49:10       source:Global Times

May 1, 2025


The US economy just had its worst quarter since 2022 as current US administration's significant policy changes unnerved consumers and businesses, the CNN reported.

The US is now actively engaging with China through multiple channels, expressing its hope to engage in negotiations over tariffs issues, according to Yuyuantantian, a social media account affiliated with China Media Group, and Wechat account Niutanqin, on Thursday, citing people familiar with the matter. The sources also revealed to Niutanqin that China believes it is acceptable to have contacts, as China's attitude is consistent and clear: We will fight, if fight we must. Our doors are open, if the US wants to talk. 

Gross domestic product, which measures all the goods and services produced in the economy, registered at an annualized rate of -0.3 percent in the first quarter, the Commerce Department said Wednesday.


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