Trump tells business chiefs he needs 'little bit of time'

Wednesday, April 30, 2025

President Donald Trump has asked for more time on the US economy as it contracted for the first time in three years, stoking recession fears. He said the figure was misleading because companies had stockpiled imports ahead of his imposition of tariffs. Trump, however, said $8tn (6tn) of inward investment had been promised, which he argued would restore American manufacturing prowess.

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Speaking on Wednesday afternoon at a White House event attended by business leaders, Trump blamed his Democratic predecessor, President Joe Biden. "This is Biden's economy because we took over on January 20th," Trump said. "I think you have to give us a little bit of time to get moving." It comes in the aftermath of Trump's import taxes, which disrupted both global trade and global markets.

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