US President Donald Trump has urged Americans to be patient despite the reported economic contraction in the first quarter of 2025. This was reported by the "Reuters" agency, BTA reports.
Trump insisted that the tariffs he imposed would ultimately lead to an economic upswing in the country, despite criticism of his often chaotic customs policy. According to a Reuters analysis, the US economy has contracted under the pressure of increased imports - a tactic used by businesses to avoid future higher costs as a result of the tariffs.
However, the president has blamed his predecessor Joe Biden, describing what is happening as the “Biden effect“.
“This is not a result of the tariffs, it is the economic legacy that was left to us. When we get rid of this burden, there will be a real boom. Be patient!“, Trump said.
He stressed that the expected economic growth would be “unprecedented”, but it would take time to manifest itself.