President Donald Trump has downplayed concerns surrounding the recent economic slowdown, attributing the negative indicators to the previous administration. In a Truth Social post on Wednesday, Trump stated that the reported 'bad numbers' have 'nothing to do with tariffs' and are remnants of former President Joe Biden's policies.

'This is Biden's Stock Market, not Trump's. I didn't take over until January 20th,' Trump wrote, referencing the recent GDP report that showed a 0.3% contraction in the first quarter of 2025. He emphasized that the new tariffs his administration enacted are only now starting to take effect, and he expressed optimism about a coming surge in economic activity.

'Tariffs will soon start kicking in, and companies are starting to move into the USA in record numbers. Our Country will boom, but we have to get rid of the Biden 'Overhang',' Trump added. He reassured the public by urging, 'BE PATIENT!' and predicted that 'when the boom begins, it will be like no other.'

The president’s remarks come as analysts review the latest data showing underwhelming private sector job growth alongside the unexpected GDP decline. Trump maintained that these figures are not a reflection of his administration’s performance but rather the lingering effects of economic decisions made before his return to office.

Trump's message aimed to inspire confidence in his economic strategy, centered on trade reform and domestic investment incentives. The administration hopes that the combination of tariffs and pro-business policies will reverse the downturn and deliver substantial growth in the coming months.