President Donald Trump and his Cabinet spent the better part of their meeting touting the administration’s record on everything from immigration to the economy. But the president also got worrisome news Wednesday: The U.S. economy shrank at a 0.3% annual pace from January through March, the first drop in three years. It was slowed by […]
Politics
Trump blames Biden for economic report, urges patience
President Donald Trump and his Cabinet spent the better part of their meeting touting the administration’s record on everything from immigration to the economy.
But the president also got worrisome news Wednesday: The U.S. economy shrank at a 0.3% annual pace from January through March, the first drop in three years. It was slowed by a surge in imports as companies in the United States tried to bring in foreign goods before Trump imposed massive tariffs.
Trump refused in a social media post to accept any responsibility for the economy’s direction.
“This is Biden’s Stock Market, not Trump’s,” Trump posted on Truth Social. “Tariffs will soon start kicking in, and companies are starting to move into the USA in record numbers. Our Country will boom, but we have to get rid of the Biden ‘Overhang.’ This will take a while, has NOTHING TO DO WITH TARIFFS.”