Trump says ‘be affected person’ as US economic system contracts on tariff disruption

WASHINGTON (Reuters) – U.S. President Donald Trump mentioned on Wednesday that Individuals must be affected person within the face of a primary quarter financial contraction, arguing that his tariffs would ultimately result in a growth within the U.S. economic system.

The economic system shrank within the first quarter, weighed down by a deluge of products imported by companies wanting to keep away from greater prices, underscoring the disruptive nature of Trump’s usually chaotic tariff coverage.

Republican Trump blamed his Democratic predecessor, Joe Biden, for the poor exhibiting.

“That is Biden’s Inventory Market, not Trump’s,” he mentioned. “Our Nation will growth, however we have now to do away with the Biden ‘Overhang.’

Trump added: “It will take some time, has NOTHING TO DO WITH TARIFFS, solely that he left us with unhealthy numbers, however when the growth begins, it will likely be like no different. BE PATIENT!!!”

(Reporting by Doina Chiacu and Susan Heavey; enhancing by Rami Ayyub)