President Trump acknowledged some positive elements of the economy while attributing its challenges to his predecessor as concerns among voters grow regarding economic conditions.
In a segment aired on “Meet the Press” on Sunday, Trump spoke with NBC News’ Kristen Welker, asserting that only “specific aspects” of the economy reflect his administration’s actions.
“The positive side is the Trump economy, while the negative side belongs to the Biden economy, which has been poorly managed,” he said, criticizing Biden’s efforts across the board.
Trump admitted recent volatility in the stock market, especially after he announced tariffs affecting various countries. He took responsibility for the broader economic situation but pointed out he has only been in office for three months.
“The tariffs have just started having an impact, and we’re actually doing quite well,” he mentioned. “The media was giving me a lot of bad coverage regarding tariffs. We’re aiming to become a very wealthy country.”
His tariff policies have led to fluctuations in the stock market, which dropped significantly before experiencing rebounds. Following a 90-day halt on some implementations, the markets began to recover.
The stock market has shown improvement for nine consecutive days, with the S&P 500 regaining losses linked to what he referred to as last month’s “liberation day” tariffs. This upturn follows a jobs report indicating the U.S. added 177,000 jobs, maintaining an unemployment rate of 4.2%.
Trump suggested the economy is undergoing a transition and posited that consumers may have to endure short-term discomfort for potential long-term benefits from tariffs.
However, this market gain coincides with indications of a breakthrough in negotiations between the U.S. and China, which could result in a reduction of the tariffs imposed by Trump that are as high as 145%.
During the interview, Trump reiterated that while this transition unfolds, children might have to make do with fewer toys and supplies.
“They don’t need 30 dolls; having three is enough. And 250 pencils? Five will do,” he stated.
In earlier comments, Trump has sought to differentiate himself from negative economic aspects, labeling it as “Biden’s stock market” in response to ongoing criticism of the turbulence during his presidency.
