President Donald Trump has strongly defended his economic policies amid fresh signs of a slowdown in the U.S. economy. He said the recent dip in stock markets and weak economic data are the result of President Joe Biden’s policies, not his own.
Trump on the economy: This is Biden, and you can even say the next quarter is sort of Biden. Trump said the stock market is an indicator but added he is not taking credit or discredit for the stock market.
Speaking about his trade strategy, Trump said he may introduce what he called a “big, beautiful bill”—possibly even bigger than previous tariffs—to protect American businesses and workers. He believes the data actually shows that his tariffs are encouraging more investment within the U.S., helping the economy in the long run.
Trump also warned that if the 2017 tax cuts passed during his presidency are not extended, Americans could face unsustainable tax increases. He argued that keeping taxes low is essential for continued job growth and economic stability.
In short, Trump blames Biden for the current economic weakness, defends tariffs as a success, and calls for continued tax cuts to avoid more financial pressure on American families.
Update
USA-Canada – President Trump says Canadian Prime Minister Carney called him and said he wants to make a deal.
USA-China – President Trump says he will talk to Chinese President Xi Jinping soon.
Update
Trump’s Tax Bill Plans
Trump said he is working hard on a big and important tax bill, and everything is going well and on time. He mentioned there will be no taxes on tips or overtime. However, he warned that taxes could increase by 68% if the bill doesn’t get approved.
Trump said that Commerce Secretary Lutnick “has no life” because he is “negotiating trade deals all the time.”
