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The president asks for “patience” as companies react negatively to the aggressive efforts of Trump to upset world trade.
President Donald Trump accuses former President Joe Biden for the decline of the main economic indicators during his first months as president, in the midst of the generalized disturbances caused by pricing policies.
THE US economy Contracted by 0.3% in the first quarter of the year, the first drop in this type in three years. In the last three months of 2024, the economy increased by 2.4%.
“This is the Biden stock market, no Trump,” said Trump in an article on his Truth Social website. “The prices will start soon, and companies are starting to settle in the United States in record numbers. Our country will explode, but we have to get rid of the “overhang” of Biden. It will take some time, has nothing to do with the prices, only that it has left us bad figures, but when the boom starts, it will be like no other.
From take officeTrump’s efforts to upset the global trade system thanks to a series of aggressive import rights have caused unrest in the financial markets in fears of an escalation of trade war and uncertainty surrounding tariff policies.
The first quarter saw an increase in imports, while American companies seek to withdraw from higher costs that could support future prices. Inflation, however, continues to facilitate ease. In March, consumer prices were higher by 2.3% that they were a year earlier, compared to 2.5% in February.
In a press release from the White House, the press secretary Karoline Leavitt reflected Trump’s claims that Biden was to blame for any turbulence while declaring that the Wednesday economic report showed “a strong economic dynamic”.
“It is not surprising that the remains of the economic disaster of Biden were an obstacle to economic growth, but the underlying figures tell the real story of the strong dynamic that the president of the Trump president,” said Leavitt.
Many economic analysts blame the chaotic approach to Trump prices for the signaling indicators of the United States. Since entering into office, the S&P 500 has decreased by around 7.3%.
“If the commerce eruption was the result of the pre-purchase companies of imported inputs to beat the prices, the decomposition of the trade balance will reverse in the second quarter,” said Carl Weinberg, chief economist of the high frequency economy, at the Reuters news agency. “This will generate a certain growth in GDP. However, corrosive uncertainty and higher taxes, prices are a tax on imports, will have the growth of GDP in red by the end of this year. “
In recent weeks, the White House has suggested that it could reduce prices with American key business partners like ChinaTreasury secretary Scott Bessent said last week that current rates were not “sustainable”.
