US consumers concerned about inflation from tariffs

US consumer sentiment has dropped to a two-year low amid rising concerns over tariffs, with long-term inflation expectations increasing significantly. This comes as the Trump administration implements higher duties on foreign goods, despite recent signs of easing price pressures. In the UK, the economy unexpectedly shrank at the start of the year due to declines in manufacturing and construction. The government attributes this contraction to global political turbulence and severe weather impacts. China faces ongoing deflation, with consumer inflation turning negative for the first time since 2021. Meanwhile, Japan reports its fastest wage growth in 32 years, signaling potential economic improvement.