Hiring Up, But U.S. Economy Still Reeling From Tariff Turmoil

Despite recent hiring strength, the U.S. economy remains under pressure as fallout from President Trump’s aggressive tariff policies continues to mount, Bloomberg’s David E. Rovella reported.

Recent signs of trade talks with China and a softening of Trump’s stance have prompted a market rebound.

Trump’s announcement of so-called “reciprocal tariffs” rattled global markets in April, leading to steep stock losses and widespread uncertainty.

However, recent signs of trade talks with China and a softening of Trump’s stance have prompted a market rebound. The S&P 500 notched its longest winning streak in over two decades and recovered losses from earlier in the year.

Still, economists warn that the damage to consumers is just beginning. “The overall backdrop isn’t that bad,” said Carmignac’s Kevin Thozet. “But the consequences of Trump’s policies are still unfolding.”