U.S.-China Tariff Truce, UN’s Gloomy GDP Forecast, and U.S. Consumer Confidence Plummets

Simply Economics

In today's episode, we explore the recent U.S.-China agreement to reduce tariffs, marking a temporary easing in trade tensions. We also discuss the United Nations' revised global GDP growth forecast for 2025, which paints a bleak picture for the world economy. Additionally, we delve into the sharp decline in U.S. consumer sentiment, reaching its lowest level in three years, and the potential economic implications of this trend. Join us for these stories and more on Simply News Radio.
Sources:
https://www.whitehouse.gov/fact-sheets/2025/05/fact-sheet-president-donald-j-trump-secures-a-historic-trade-win-for-the-united-states/
https://www.whitehouse.gov/briefings-statements/2025/05/joint-statement-on-u-s-china-economic-and-trade-meeting-in-geneva/
https://budgetlab.yale.edu/research/state-us-tariffs-may-12-2025
https://www.csis.org/analysis/understanding-temporary-de-escalation-us-china-trade-war
https://www.whitecase.com/insight-alert/united-states-and-china-agree-partially-de-escalate-april-tariffs
https://desapublications.un.org/publications/world-economic-situation-and-prospects-mid-2025
https://www.un.org/development/desa/dpad/wp-content/uploads/sites/45/WESP-2025_MYU_Table.pdf
https://shafaq.com/en/Economy/Global-growth-slowing-UN-revises-2025-GDP-projection-down-to-2-4
https://www.youtube.com/watch?v=z0F-2TxEJuQ
https://www.firstpost.com/india/un-revises-indias-2025-gdp-growth-to-6-3-in-mid-year-report-13889203.html
https://www.bloomberg.com/news/articles/2025-05-16/us-consumer-sentiment-falls-close-to-record-low-on-inflation
https://www.advisorperspectives.com/dshort/updates/2025/05/16/consumer-sentiment-nears-record-low-as-inflation-expectations-climb
https://www.sca.isr.umich.edu