Tradewinds
Column Published in syndication April 30, 2025We're beginning to see the fallout from the increase in tariffs across the spectrum. Although there was a recent bump in imports as firms rushed to fill warehouses in advance of the levies, projections are indicating that trade volumes will fall this year. Lower trade is, in turn, contributing to projections for slower economic growth and higher prices than would occur otherwise. The decline in US Gross Domestic Product in the first quarter is a stark reminder of the consequences of trade disruptions.