NEW YORK (NewsNation) — The second estimate of the U.S. gross domestic product report will be released Thursday, offering a fresh look at the country's economic growth as President Donald Trump's feud with the Federal Reserve intensifies.

Global markets are watching closely. The U.S. economy and those of countries around the world, such as India, are being tested this week by Trump’s aggressive tariff agenda.

The report will indicate whether the initial second-quarter estimate, which suggested growth despite Trump's tariffs, holds up. The GDP shrank 0.5% in the first quarter but bounced back in the spring, growing a stronger-than-expected 3% from April through June.

50% tariffs on India go into effect

India is facing sharper fallout. Trump’s 50% tariff on more than $80 billion worth of

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