Consumers’ loss, farmer optimism: In US, trade war sees key groups at odds

News Snapshot:

April was one of the most important months in the world’s economic history, with the Trump administration’s reciprocal tariffs coming into force on April 2 before being put on pause for 90 days a week later. The threat of the reciprocal tariffs, however, has seemingly had the opposite effect as American companies stocked up ahead of the tariffs’ rollout. Data released last week showed that while the US’ goods and services trade deficit in April 2025 fell a record 55 per cent from March 2025 to a 19-month low of $61.6 billion, the deficit for the first four months of...