President Donald Trump said on Wednesday that people should “be patient” after the U.S. economy contracted, saying it would take time for his tariffs to work.
Trump stated that his predecessor, former President Joe Biden, was responsible for the contraction and said that “our country will boom” economically, according to a post he made on Truth Social.
“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!!!” he wrote.
The president was responding to data showing that the U.S. gross domestic product (GDP) shrank at a 0.3 percent annual pace in the first quarter of 2025, or from January through March, representing the first drop in three years. It was slowed by a surge in imports as companies in the United States tried to bring in foreign goods before U.S. tariffs came into effect….