Trump shifts blame as economy shrinks slightly in first quarter
Under mounting pressure from troubling economic signs, President Trump is deflecting blame as new government data shows the U.S. economy contracted slightly during the first quarter of the year.
(NBC)- Under mounting pressure from troubling economic signs, President Trump is deflecting blame as new government data shows the U.S. economy contracted slightly during the first quarter of the year. According to a Commerce Department report, the economy shrank amid a surge in imports and signs of weakening consumer confidence. While the slowdown occurred largely during Trump’s presidency—he was in office for all but 20 days of the quarter—the president pointed the finger at his predecessor.
“That’s Biden. That’s not Trump, because we came in on January—these are quarterly numbers,” Trump said, attempting to distance himself from the downturn.
Economists say the dip was largely due to businesses rushing to import goods ahead of new tariffs, which drove up imports and pulled down domestic production. Meanwhile, consumer sentiment has also taken a hit.
“Confidence is really taking a hit in what Americans expect in the next six months,” said CNBC Senior Markets Correspondent Dom Chu. “We’re talking business conditions, employment prospects, and future income.”
Former Vice President Kamala Harris, in some of her most direct remarks since losing the election, pinned the economic trouble squarely on Trump’s policies. “Tariffs that, as I predicted, are clearly inviting a recession,” Harris said.
President Trump has acknowledged his sweeping tariffs on Chinese goods—some reaching triple-digit levels—could lead to higher prices and product shortages. Still, he framed the sacrifice as minor and worthwhile. “Maybe the children will have two dolls instead of thirty,” he said. “And maybe the two dolls will cost a couple of bucks more.” Despite a failed Senate effort—albeit with some bipartisan backing—to roll back the tariffs, Trump remains committed to his trade strategy, insisting that new investments in U.S. manufacturing are already underway. “They’re really coming in fast,” he said, urging Americans to be patient as he works to reshape global trade dynamics.
