The Americans demanded patience .. Trump accuses Biden of causing the economy to shrink

US President Donald Trump blamed his predecessor Joe Biden for the bad economic reports of the US economy’s shrinkage.
“This is the Biden stock market and not the Trump stock market, our country will flourish, but we have to get rid of the negative impact of Biden,” he said in a post on his platform, Truss Sushil.
He continued: “This will require some time, and it has nothing to do with customs duties, and when the prosperity begins, it will be unparalleled, be patient.”

An unexpected contraction

The American economy witnessed an unexpected contraction in the first three months of 2025, according to new data published today, Wednesday, due to a large part of it to increasing imports before President Donald Trump imposed comprehensive customs duties.
The GDP of the world’s largest economy in the world decreased by an annual rate of 0.3% in the first quarter, after it grew by 2.4% in the last months of the year 2024, according to the US Department of Commerce estimates.

Light data from estimates

The data issued on Wednesday came with much lower estimates that expected 0.4%growth, according to the Breighting.com.
The Ministry of Commerce said in a statement that “the decline in the real GDP reflects the high imports, slowdown in consumer spending and low government spending.”
The American markets interacted negatively with these news, and the three main indicators opened a sharp drop in Wall Street.

Expected

Minutes after that, Trump’s economic advisor Peter Navarro indicated in an interview with the “CNBC” network, that the decline in GDP was expected, saying that “this will not be the case in the next chapter.”