The US president blames the first quarterly GDP decline in three years on his Democratic predecessor.

Donald Trump has asked for more time on the US economy as it contracted for the first time in three years, stoking recession fears.

He claimed the figure was misleading because companies had stockpiled imports ahead of his imposition of tariffs.

The US economy contracted at an annual rate of 0.3%, the US commerce department said, a sharp downturn after growth of 2.4% in the previous quarter. It comes as Trump marks 100 days in office, with opinion polls indicating public discontent over his economic stewardship.

  • halcyoncmdr@lemmy.worldEnglish
    0·
    8 months ago

    He claimed the figure was misleading because companies had stockpiled imports ahead of his imposition of tariffs.

    I mean he’s probably right… Except if they were importing ahead of time to avoid the tariffs, you would assume things to either be the same or have a slight increase… Not contracting.