Donald Trump has requested more time to address the US economy, which contracted for the first time in three years, raising concerns about a potential recession. Trump attributed the contraction to companies stockpiling imports in anticipation of his tariffs. However, he claimed that $8 trillion in inward investment had been pledged, which he believes would revitalize American manufacturing.

The US economy saw an annual contraction of 0.3%, a significant drop from the previous quarter's 2.4% growth. This downturn coincides with Trump's 100th day in office, during which opinion polls have indicated public dissatisfaction with his economic policies. At a White House event with business leaders, Trump criticized his predecessor, Joe Biden, for the disappointing GDP data, stating, "This is Biden's economy because we took over on January 20th. I think you have to give us a little bit of time to get moving."

Trump's import taxes have disrupted global trade and markets. Congressman Hakeem Jeffries refuted Trump's claims, asserting, "This is not Joe Biden's economy, Donald, it is your economy. It is the Trump economy, it is a failed economy and the American people know it."

During the White House event, Trump highlighted planned investments in technology, healthcare, and infrastructure. He introduced CEOs from major companies, including Hyundai, Toyota, and Johnson & Johnson. Trump also called on Congress to approve his tax bill, which includes substantial tax and spending cuts but faces opposition from both Democrats and some Republicans.

In a television appearance, Trump downplayed concerns about potential shortages of goods, such as toys, due to declining trade between the US and China. He suggested that children might have fewer toys and that these toys might cost slightly more.

Trump has imposed 10% levies on nearly all countries importing to the US, following a 90-day pause on higher tariffs. A 25% tariff has been applied to Mexico and Canada. The levies on China have escalated into a significant trade war, with the US imposing import taxes of up to 145% on Chinese goods and China retaliating with a 125% tax on American products. The Trump administration has indicated that these levies could reach 245% when combined with existing tariffs.