Tariff impact on trade

FinancialTimes writes that: ”US goods exports tumbled in May at their steepest rate since the coronavirus crisis in 2020, as trading partners cut back purchases of American goods in the wake of President Donald Trump’s “liberation day” tariff blitz”.

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US goods exports tumbled in May at their steepest rate since the coronavirus crisis in 2020, as trading partners cut back purchases of American goods in the wake of President Donald Trump’s “liberation day” tariff blitz. Exports tallied $179.2bn in May, a $9.7bn — or 5.2 per cent — drop from the previous month’s figure, according to Census Bureau data released on Thursday. That marked a reversal from an increase of 3.5 per cent in April.

Source:FT