U.S. Economy Shrank as Trade Turmoil Began to Hit

WSJ What’s News

The Wall Street Journal

News, Daily News

4 • 4K Ratings

🗓️ 30 April 2025

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

P.M. Edition for April 30. New data out today showed that the U.S. gross domestic product fell in its steepest decline since 2022. We hear from WSJ economics correspondent Harriet Torry about what this data, along with other metrics out today, say about the overall health of the economy. Plus, a growing number of companies are yanking their profit guidance for the coming quarter amid economic uncertainty. WSJ reporter Chip Cutter joins to discuss what this means for these companies and their investors. And a federal judge orders the release of a Columbia University student who was detained by the Trump administration. Alex Ossola hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Race the rudder. Raise the sails. Raise the sales.
0:04.0	Captain, an unidentified chip approaching. Over.
0:07.0	Roger that. Wait. Is that an enterprise sales solution?
0:12.0	Reach sales professionals, not professional sailors.
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0:21.4	To get £100 off your first campaign, go to LinkedIn.com slash lead to claim your credit.
0:26.7	That's LinkedIn.com slash lead. Terms and conditions apply.
0:33.2	The U.S. economy shrank in the first quarter as imports surged ahead of tariffs.
0:38.9	Plus, why a growing number of companies are shelving their financial guidance for the quarter ahead.
0:44.3	Many executives began this Trump administration feeling really optimistic.
0:48.7	And right now, the overwhelming mood is that it's just uncertain.
0:52.4	It's tough to navigate.
0:53.6	And companies don't know
0:54.9	where things are headed. And a federal judge orders the release of a Columbia student detained
0:59.8	by the Trump administration. It's Wednesday, April 30th. I'm Alex Osala for the Wall Street Journal.
1:05.7	This is the PM edition of What's News, the top headlines and business stories that move the world today.
1:16.2	The U.S. economy shrank at the start of this year as the trade turmoil started to hit,
1:21.6	prompting businesses to stock up on goods from overseas.
1:24.9	The Commerce Department said today that the U.S. gross domestic product,
1:28.8	the value of all goods and services produced across the economy, had its steepest decline since the
1:33.8	first quarter of 2022. Stocks fell broadly after the release of the data before major indexes
1:39.7	paired declines in the afternoon. In the end, major U.S. indexes ended the day mixed.
	...

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