The Globe and Mail reports in its Wednesday edition that corporate executives are worried that President Donald Trump's trade policies have harmed consumer and business confidence in a way that may be hard to reverse. A Reuters dispatch to The Globe reports that Mr. Trump marks 100 days in office on Wednesday, and he may be greeted with a contraction in first quarter U.S. gross domestic product, the broadest measure of the country's economic health. As of Tuesday morning, GDP was expected to come in at a weak 0.3 per cent, according to a Reuters poll, but after another round of lacklustre economic figures, prominent economists, including Goldman Sachs, Morgan Stanley and JPMorgan, lowered their expectations for the quarter to minus 0.8 per cent, minus 1.4 per cent and minus 1.75 per cent. Job openings dropped sharply in March, while the Conference Board's measure of consumer confidence in April fell to its lowest level since COVID-19-era readings as inflation expectations surged. The trade deficit spiked to a new record on another rise in imports as people bought goods to get ahead of tariffs. "The world has not been faced with such enormous potential impacts to trade in more than 100 years," says UPS head Carol Tome.
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