Summary
Category: us
President Donald Trump faced several challenges on Friday. New data showed the U.S. economy is growing more slowly, inflation is rising, and the Supreme Court rejected certain tariffs that were important to his economic policies.
Key Facts
- The U.S. economy grew at an annual rate of 1.4% in the last quarter, slower than expected.
- A government shutdown lasting six weeks reduced government spending, affecting economic growth.
- Inflation rose by 0.4% in December, with a yearly increase of 2.9%.
- Prices for everyday goods like furniture and groceries went up, although gas prices fell.
- The Supreme Court ruled 6-3 that certain global tariffs imposed by President Trump exceeded his authority.
- Justices involved in the majority included Chief Justice John Roberts, Neil Gorsuch, and Amy Coney Barrett among others.
- The tariffs had collected over $133 billion, but the court did not decide whether companies could get that money back.
- These developments impact President Trump's trade and economic strategies ahead of his State of the Union address.
