The Globe and Mail reports in its Wednesday, May 7, edition that the U.S. trade deficit hit a record high in March as businesses increased imports ahead of President Donald Trump's tariffs, contributing to a decline in gross domestic product for the first time in three years. A Reuters dispatch to The Globe reports that the Commerce Department reported record imports from 10 countries, including Mexico and Vietnam, while imports from China fell to a five-year low and could decrease further due to tariffs reaching 145 per cent. There are also reports of a significant decline in cargo from China. While reciprocal tariffs with most U.S. trade partners were suspended for 90 days, duties on Chinese goods came into effect in early April, triggering a trade war with Beijing. Economists expect the front-running of imports probably persisted in April. FWDBONDS economist Christopher Rupkey says, "There are still no trade deals announced in Trump 2.0." Citigroup economist Veronica Clark says: "Imports from the EU were substantial in March, particularly from Ireland, and may decline in April. But if anything, imports from some Asian countries may rise further as larger 40-per-cent [to] 50-per-cent tariffs were delayed until July."