Trump appeals for ‘time’ as he upends the global economy – Washington Examiner
In an event marking his frist 100 days of his second term, president Donald Trump addressed the audience about the economic challenges facing the U.S., acknowledging a recent downturn reflected in a Commerce Department report indicating a 0.3% decrease in GDP during the first quarter. Trump appealed to the public for “time” to implement his economic agenda, which includes important tariffs aimed at reshaping trade relationships. He emphasized the notion that the current economic struggles are attributed to his predecessor, Joe Biden, asserting that the economic situation is improving despite current negative growth, and highlighted nearly $8 trillion in investments that have been made since his reelection. Trump’s statements also implied a focus on defending his policies to business leaders, while indicating that ongoing negotiations regarding tariffs are essential for progress.
Trump appeals for ‘time’ as he upends the global economy
President Donald Trump appears aware of consumer impatience as he attempts to remake the country’s trade relationships through his tariffs.
During a first 100 days event underscoring some $8 trillion in investments in the U.S. economy since his second inauguration, Trump appealed to the public for “time” before apportioning responsibility to his predecessor, former President Joe Biden, for current economic conditions.
TRUMP’S FIRST 100 DAYS: WHERE THINGS STAND IN THE INITIAL MONTHS OF HIS SECOND TERM
A Commerce Department report released Wednesday morning revealed gross domestic product in the U.S. decreased at a 0.3% annualized pace during the first three months of this year, the first quarter of negative growth since 2022.
“I think you have to get us a little bit of time to get moving, but this is the Biden economy,” Trump said Wednesday afternoon during the event at the White House, with business leaders in attendance.
With a pause on so-called “reciprocal” tariffs in place so he and his aides can negotiate trade deals, Trump defended his policy, repeating that voters understood tariffs were a priority for him based on his campaign back to the White House.
“Since the election, the companies represented in this room have collectively announced more than $2 trillion in new investments, and we have a total of close to $8 trillion all told,” he said. “Two things happened: Nov. 5 happened and Nov. 5 gave you tariffs, intelligently used tariffs and various other forms of incentives.”
A recession is defined as two consecutive quarters of negative growth and Trump previewed earlier Wednesday on social media and during his fifth Cabinet meeting that he would likely continue to blame Biden if the second quarter’s results are also negative.
“When you look at the stock market, in this case, it says how bad the situation we inherited,” Trump said. “This is Biden. And you could even say the next quarter is sort of Biden because it doesn’t just happen on a daily or an hourly basis. But we’re turning it around. It’s a big ship to turn around.”
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