Business EconomyPosted at: Jul 10 2025 10:11PM


Tariff uncertainties put backward jerk in American economy

New Delhi, July 10 (UNI) The clouds of tariff uncertainty roaming across the economy of the United States put a slight backward jerk in the future growth prospects.
The American economy is also affected by volatile policy decisions.
In a monthly report presented by NRF (National Retail Federation) Chief Economist Jack Kleinhenz talked about two factors, “anxiety and confusion,” that are disturbing the future economic forecasts despite strong and positive fundamentals of the US economy.
Kleinhenz also highlighted that this year started on a positive note for US policymakers due to a strong 2.8 percent year-over-year growth in GDP or Gross Domestic Product of 2024, led by massive consumer spending taking place in the economy.
Kleinhenz also highlighted that the trust of consumers in the economy also helped businesses and government spending to ease.
NRF’s Chief economist also stressed some factors, including the contraction of GDP or Gross Domestic Product to the mark of 0.5 percent in Q1 or Quarter 1. GDP’s contraction is pointed to a spike in imports in the US economy ahead of expected tariff hikes.
However, the core spending indicators are resilient. Core spending indicators comprise the key economic metrics, including consumer spending, government spending and personal spending. These metrics enable policymakers to understand ongoing economic trends.
Despite the positive trends of the American retail sector, the threat of tariffs still looms, and if it persists, it will reduce the spending capacity and push up the unemployment rates.
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