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Trump says he’ll blame Biden again for 2nd quarter GDP after blaming him for Q1 drop
https://www.cnbc.com/2025/04/30/trump-gdp-tariffs-biden-overhang.html
President Donald Trump on Wednesday blamed former President Joe Biden for the U.S. economy contracting in the first quarter of 2025 — and suggested he will blame Biden again for the second quarter’s results.
“This is Biden,” Trump said after the Commerce Department reported gross domestic product declined in the first three months of this year.
“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,” he said during a Cabinet meeting at the White House.
Trump noted that he did not take office until late January.
“The stock market in this case is, it says how bad the situation we inherited,” he said. “This is a quarter that we looked at today, and I, we took, all of us, together, we came in on January 20th.”
The president’s remarks came hours after his first defensive response to the Commerce report showing GDP fell at a 0.3% annualized pace in Q1. It was the first quarter of negative growth since 2022, when Biden was in the White House.
“This is Biden’s Stock Market, not Trump’s. I didn’t take over until January 20th,” Trump said in a Truth Social post.
“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,’ ” he claimed.
“This will take a while, has NOTHING TO DO WITH TARIFFS, only that he left us with bad numbers, but when the boom begins, it will be like no other. BE PATIENT!!!” Trump wrote.
Trump’s claim that the negative GDP and subsequent market declines were a result of Biden’s policies is inaccurate.
According to the Commerce report, the GDP figure reflects a wave of imports that companies made to try to get ahead of Trump’s promised tariffs.
https://www.cnbc.com/2025/04/30/trump-gdp-tariffs-biden-overhang.html
President Donald Trump on Wednesday blamed former President Joe Biden for the U.S. economy contracting in the first quarter of 2025 — and suggested he will blame Biden again for the second quarter’s results.
“This is Biden,” Trump said after the Commerce Department reported gross domestic product declined in the first three months of this year.
“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,” he said during a Cabinet meeting at the White House.
Trump noted that he did not take office until late January.
“The stock market in this case is, it says how bad the situation we inherited,” he said. “This is a quarter that we looked at today, and I, we took, all of us, together, we came in on January 20th.”
The president’s remarks came hours after his first defensive response to the Commerce report showing GDP fell at a 0.3% annualized pace in Q1. It was the first quarter of negative growth since 2022, when Biden was in the White House.
“This is Biden’s Stock Market, not Trump’s. I didn’t take over until January 20th,” Trump said in a Truth Social post.
“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,’ ” he claimed.
“This will take a while, has NOTHING TO DO WITH TARIFFS, only that he left us with bad numbers, but when the boom begins, it will be like no other. BE PATIENT!!!” Trump wrote.
Trump’s claim that the negative GDP and subsequent market declines were a result of Biden’s policies is inaccurate.
According to the Commerce report, the GDP figure reflects a wave of imports that companies made to try to get ahead of Trump’s promised tariffs.
