GDP Data Illustrate Both the Good and Bad of Trump's Trade Wars

One big headline from Friday’s initial report on first-quarter U.S. gross domestic product is the boost growth received from the fallout of President Donald Trump’s trade wars. Yet below the surface are signs of how his disruptive approach to trade is also dampening growth in a way that may be more worrying for the long term.

While net exports contributed almost a third of the 3.2 percent annualized pace of growth in the first three months of 2019, there were also signs of the drag posed by what economists and businesses have for months been warning has been a slowdown in investment due to uncertainty about Trump’s trade policies.