Amidst a 0.3% GDP decline—the first contraction since 2022—and a significant stock market drop, President Trump downplayed concerns about his tariffs' impact on consumer costs. He attributed the economic downturn to the Biden administration and insisted his tariffs would ultimately benefit the U.S. economy, despite reports of rising prices and potential shortages for American companies. Some Republican lawmakers, however, disagree, assigning responsibility for the current economic situation to Trump's policies.

Prepared by Christopher Adams and reviewed by editorial team.