The U.S. economy grew by only 0.3% in the first quarter, marking its worst performance since 2022, largely due to President Trump's tariff policies. However, media figure Chen Feng-hsin pointed out on the program "Wind Direction Long Feng Cup" that the short-term GDP data does not indicate a recession, but the slowdown in consumer spending suggests that consumers are tightening their belts, which could have major implications for Taiwanese manufacturers.

According to data released by the U.S. Bureau of Economic Analysis (BEA), the annual GDP decreased by 0.3%. This was primarily attributed to importers increasing their imports significantly to avoid tariffs, leading to a higher trade deficit. In contrast, Taiwan's growth rate of 5.37% in the first quarter indicates that the U.S. hopes to enhance Taiwan's exports. However, Chen speculates that the economic data in the upcoming quarters may not be as optimistic.

She noted that consumer spending growth was only 1.8% in the first quarter, the lowest figure for 2023, indicating that American consumers are indeed spending less. This could mean that not only will there be no growth for Taiwan's consumer electronics manufacturers, but the possibility of negative growth is also increasing.

Furthermore, the U.S. saw over 100,000 layoffs in April, signaling a bleak outlook for non-essential consumer goods. Despite these challenges, Chen remains optimistic about AI investments, noting that major tech companies maintain steady capital expenditure for AI infrastructure despite a more conservative outlook for consumer electronics.

The overall economic trajectory still depends on when the U.S. and China will engage in serious negotiations, which could serve as a moment for the market to catch its breath, but this respite may not last long. Observers should also pay attention to future U.S. non-farm payroll reports and unemployment claims for a clearer economic picture.