Trump accused Biden of defending GDP and defending tariffs, saying “Patient!”

President Donald Trump blamed his predecessor on Wednesday and defended his full tariffs after new data showed last quarter’s U.S. economy signing, while warning that his promised “boom” would “take some time.”

“This is (former Joe) Biden's stock market, not Trump's stock market. I didn't take over until January 20,” Trump said in a truth-clarifying social position.

“Tariffs will start to start soon and companies start to enter the U.S. with record numbers. Our country will thrive, but we must get rid of biden'Overhang',” he claimed.

“It will take a while, it has nothing to do with tariffs, it's just that he left us the wrong numbers, but when the boom begins, it will be like everyone else. Be patient!!!” Trump wrote.

GDP fell by 0.3% less than an hour after the U.S. Department of Commerce report, and GDP fell by 0.3% in the first three months of the year.

This is the first quarter of negative growth since the first quarter of 2022.

On Wednesday morning, another report showed that private wages rose by just 62,000 in April, well below the Dow Jones consensus estimate, an increase of 120,000.

ADP weak recruitment reports mark the smallest gain since July 2024. This also shows that wage growth has declined, down from a decline in the 147,000 growth rate in March.

The market fell sharply in the Open after GDP reports and disappointing company results.

Bad economic data may continue at the White House meeting with more than two dozen business leaders later Wednesday. The blame he made for the reporting blame could go to great lengths to work for the efforts he had put into his claim, a series of positive economic developments.

For example, in a speech Tuesday night, Trump boasted about “the price drop”, claiming “this is what I do.”

In fact, the latest GDP report shows that the personal consumption expenditure index, the Fed's preferred measure of inflation, increased sharply by 3.6% in the first quarter, up from 2.4% in the previous quarter.

Meanwhile, experts have narrowed the amount of wages, making consumer confidence surround the uncertainty and fear of Trump’s tariff policy.

Trump’s current attempt to take responsibility for economic responsibility is a mirror image of his efforts to win the stock market during the Biden administration.

On January 29, 2024, the then-presidential candidate wrote: “This is Trump's stock market because my polls on Biden are so great that investors expect me to win.”

This is breaking news. Please refresh the update.

– CNBC's Jeff Cox contributed to the report.