Trump says it's Biden's economy, but businesses and economists beg to differ [View all]

WASHINGTON (AP) — When the stock market was climbing in January 2024, Donald Trump knew exactly who deserved credit: He did.

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When the stock market fell Wednesday on news that the American economy had gone backward during the first three months of 2025, Trump knew exactly who to blame: Biden.

“This is Biden’s Stock Market, not Trump’s,’’ he posted, adding that Biden “left us with bad numbers, but when the boom begins, it will be like no other. BE PATIENT!!!’’

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Yet for economists puzzling out how prices and hiring will change in the coming months, or businesses struggling with a starkly uncertain future, Trump’s massive and unpredictable import taxes on almost every country do in fact bear much of the blame. Rarely have a new president’s policies had such a sharp, immediate impact on the economy.

https://apnews.com/article/trump-economy-biden-tariffs-a268e2c155019a462eaa951aa20c7fcd