Imports surged as firms and consumers scrambled to bring goods into the country before the worst of Mr Trump’s tariffs took effect. They rose by an astonishing 41% at an annualised rate. Yet that alone is not enough to explain the drop in GDP.

In a cabinet meeting, President Trump fielded questions about new GDP data showing the U.S. economy contracting in the first quarter of 2025.

This is Washington Edition, the newsletter about money, power and politics in the nation’s capital. Today, senior editor Joe Sobczyk looks at today’s GDP report and the reaction in the White House. Sign up here and follow us at @bpolitics.