US President Donald Trump has accused Joe Biden of the first economic downturn in three years as he vigorously defended his tariff policy. The US economy contracted 0.3% in the first quarter of 2025, putting a harsh light on Trump’s initial 100 days in office.
While critics questioned his belligerent trade policy, Trump dismissed any tariff role in the slowdown and instead accused Biden’s economic record. He also berated the Federal Reserve, blamed Democrats for sabotage, and called on the nation to “be patient” as his tariff-driven boom unfolds.
‘That’s Biden, Not Trump’ — President Denies Responsibility
During a Wednesday Cabinet meeting, Trump spoke candidly about the bad GDP numbers. “That’s Biden; that’s not Trump,” he declared. He reiterated this same view earlier on TruthSocial, in which he separated himself from the market slump. “This is Biden’s Stock Market, not Trump’s,” he stated. “Tariffs will soon start kicking in, and companies are beginning to move into the USA in record numbers.”
“You probably saw some numbers today … that’s Biden, that’s not Trump.”
— President Trump blames his predecessor for the U.S. economy shrinking at a 0.3% annual rate in the first three months of 2025 pic.twitter.com/vDJSaJDxtQ
— The Recount (@therecount) April 30, 2025
Trump insisted his administration took over a broken economy. “We have to eliminate the Biden overhang,” he wrote, italicizing it for emphasis. “It has NOTHING TO DO WITH TARIFFS… BE PATIENT!!!”
‘Two Dolls Instead of 30’ — Trump Defends Consumer Impact
Trump spoke to the worries of increasing costs owing to tariffs. He brushed aside the concerns, saying, “Maybe the children will have two dolls instead of 30 dolls. And maybe the two dolls will cost a couple bucks more.”
He claimed American consumers have to get accustomed to a new era of fair trade. Trump framed this temporary sacrifice as necessary for long-term economic renewal.
Economic Contraction Raises Eyebrows in Congress
The Bureau of Economic Analysis had reported that the 0.3% decrease is not only a reflection of post-Biden legacy problems but also the expectation of Trump’s tariff policies. Economists warn that the numbers will be even worse once the duties come fully into effect.
Markets reacted negatively as well. On the same morning, US financial markets suffered after the Q1 report was released.
Democrats Hit Back: ‘This is Trump’s Economy’
Democrats responded instantly. “This is not Joe Biden’s economy, Donald,” House Minority Leader Hakeem Jeffries told him. “It is your economy. It is the Trump economy.”
A Senate bill aimed at rolling back Trump’s “Liberation Day” tariffs died on a 49-49 tie. Senators Lisa Murkowski, Susan Collins, and Rand Paul crossed party lines to vote for the measure.
Paul cautioned that if growth continues to be negative, more Republicans will speak up. “Another quarter of negative growth and there will be more visible voices against the tariffs,” he said.
Trump’s ‘Patience Doctrine’ and the Politics of Blame
Trump’s all-cap demand for patience is a strategic turn. Instead of taking ownership of the dip, he repositions it as an inevitable shift. This style of messaging may come to characterize how Trump survives future economic shocks. His nascent “Patience Doctrine” relies on narrative supremacy over market reality.
Yet, as facts counter his denial, Trump could come under mounting pressure to reconcile nationalism with market trust. If results fail to align with his optimism, the blame game could dissipate his political capital quicker than tariffs will grow the economy.
