President Donald Trump on Wednesday acknowledged that his tariffs could result in fewer and costlier products in the United States, saying American kids might "have two dolls instead of 30 dolls," but he insisted China will suffer more from his trade war.

The Commerce Department on Wednesday estimated that the U.S. economy shrank during the first three months of 2025, its worst performance in three years. The 0.3 percent contraction is a sharp decline from the 2.