The U.S. economy shrank 0.3% from January through March, first drop in three years. It was slowed by a surge in imports as companies in the United States tried to bring in foreign goods before President Donald Trump imposed massive tariffs.

Trump promised a new "golden age" for the U.S. But his first 100 days in office have left the economy looking tarnished, with data showing the economy contracted in the first three months of the year.

Voters returned Donald Trump to the White House in November believing he would be better for the economy than his opponent, Democratic Vice President Kamala Harris.