President Trump was quick to respond to the news on Wednesday that the US economy contracted for the first time in three years, which has lower the stock market indices.
“This is the Biden stock market … We have to get rid of the” overhang “of Biden”, he said in an article on social networks.
He added a series of all caps messages saying that the contraction has “nothing to do with the prices” and also “being patient !!!”
The timing of GDP number lower than planned And the additional sale could not be worse for Trump.
The president is expected to end his first 100 days in power today with another series of austere economic indicators creating new pressures on his business plans, especially after the prices have led A historically dark start to its presidency on the stock market.
On Wednesday Morning Post was part of a Trump race and his team to explain the news. The Commercial Advisor of the White House, Peter Navarro, said on CNBC: “It is the best negative print that I have ever seen in my life”, pointing things like an increase in imports and interior investments.
The markets must “look below the surface,” he added.
Everything came in response to an economic analysis office Early estimate of the American gross domestic product in the first trimester (GDP)) Noting that real GDP decreased by 0.3% in the first quarter of 2025. It was both lower than expectations and the first negative reading of GDP since 2022.
It is a reading that extends over the last 20 days of the presidency of Joe Biden and about 70 of the first days of Trump.
Trump clearly aims to focus on these first 20 days with the former spokesperson for Biden, Andrew Bates, responding to Trump saying claims “When Joe Biden gave Donald the best efficient economy in the world, experts praised the United States for leaving all the other rich countries” in the dust. “Now we whisper towards a Trump belt.”
Find out more: The latest news and updates on Trump's prices
Trump’s statements on Wednesday morning also sought to avoid talking about the impact of his historic pricing efforts with affirmations with which few economists agree.
The Enterprise Competitive Institute, a market -oriented reflection group in Washington, DC, was one of the many to grow quickly.
“It did not take long,” proposed the main economist Ryan Young in a statement, adding that “the United States is halfway with a self-imposed recession, and the prices are to be blamed.”
Reading Wednesday GDP was considerably lower than that of 2.4% of the growth rate observed in the fourth quarter of 2024.
