Global trade stumbled in April as President Donald Trump’s tariffs prompted US consumers to hit the brakes on spending. The undercurrent of anxiety among many American consumers about the economy after the weakest quarter for spending in nearly two years is hitting exporters from Europe to Asia.

American consumers reined in their spending and socked away their money in April following a tariff-fueled buying binge the month before, according to new data released Friday that also showed inflation cooled off again.