Trump’s Precise Financial system Is Tanking 100 Days In, So He Is Fantasizing A Nice One

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WASHINGTON — Sad that his commerce conflict seems to be operating the sturdy financial system he inherited right into a ditch, President Donald Trump is promoting People a fantasy model of his first 100 days in workplace during which every little thing goes simply nice.

“I think it’s the most consequential 100 days in the history of our country,” he mentioned in a White Home speech Wednesday afternoon, repeating a theme from earlier within the day.

“We’ve just completed what many consider to be the most successful first 100 days of any administration in the history of our country,” Trump declared at his Cupboard assembly, simply hours after the Commerce Division reported that the U.S. financial system had truly shrunk within the first three months of the yr, a robust signal of an impending recession. “Things are happening that are amazing.”

Trump’s company heads and high aides ― whom he appointed and whom he can fireplace instantly — chimed in to agree.

“Mr. President, your first 100 days has far exceeded that of any other presidency in this country. Ever. Ever,” mentioned Legal professional Normal Pam Bondi. “Never seen anything like it. Thank you.”

President Donald Trump speaks together with his Cupboard after stories that the U.S. financial system contracted 0.3% within the first quarter of 2025, fueled by a large surge in imports forward of the administration’s anticipated tariffs.

Andrew Harnik through Getty Photos

Trump continues to say that the tariffs he imposed on imports would make the nation wealthy whereas failing to level out that U.S. importers pay that tax, not exporting nations and corporations.

In an interview with ABC Information broadcast Tuesday evening, Trump turned tourism statistics — that are displaying a drop-off in international guests to america ― on their head. “Tourism is way up,” he mentioned. “Tourism is doing very well.”

And when confronted with metrics too well-known to be refuted with informal falsehoods, Trump has used a favourite deflection: blaming predecessor Joe Biden.

Trump has lengthy been desperate to take credit score for the inventory market’s rise, and did so repeatedly after his November election win.

“Everyone is calling it the — I don’t want to say this. It’s too braggadocious, but we’ll say it anyway — the Trump effect,” he mentioned on Jan. 19, the day earlier than he retook workplace.

Since then, markets fell with the prospect of Trump’s coming commerce conflict after which additional tumbled after Trump’s April 2 announcement of tariffs on all international international locations. They’re now down about 7% for the reason that begin of his time period, and Trump has since modified his story to deny any accountability. “This is Biden’s Stock Market, not Trump’s. I didn’t take over until January 20th,” he wrote, after which implored his followers: “BE PATIENT!!!”

One in every of Trump’s clear successes is in lowering the variety of migrants making an attempt to cross into america from Mexico to close zero —though how a lot of this is because of more durable enforcement and the way a lot is because of Trump turning the U.S. into a spot that these searching for freedom and alternative now not want to enter is unclear.

Even that accomplishment, although, has been offset by the general public’s lack of assist for Trump’s eagerness to spherical up migrants and deport them with out a court docket listening to, even sending a whole lot or 1000’s of them to a infamous Salvadoran jail with no prospect of launch.

Certainly, the border and immigration stay Trump’s greatest points in current polling, and even on these, he’s barely above 50% assist, as irritation about his failure to decrease prices as he repeatedly promised he would throughout his marketing campaign and concern about financial circumstances getting worse have despatched his approval scores spiraling downward.

Trump’s general approval ranking, which began at over 50% in late January, is now within the mid-40s, together with his approval on dealing with inflation within the higher 30s.

Throughout a disjointed and meandering 90-minute speech Tuesday evening during which he meant to take a victory lap for all his accomplishments up to now, Trump falsely accused the information media of publishing inaccurate polls to make him look dangerous.

“They say Trump only has a 44% approval rating. Well, it’s actually not bad. But when you figure that, if it were a legit poll, it would be in the 60s or 70s,” he advised an viewers of some thousand attending his rally in Warren, Michigan.

However, Trump appears keenly conscious that his commerce conflict, notably his 145% import tax price in opposition to Chinese language items, is prone to create shortages whereas concurrently growing costs. In an uncommon assertion Wednesday, he appeared to spice up anti-consumerism whereas inadvertently acknowledging that American importers and customers are those who pay tariffs, not international nations and exporters.

“Somebody said, oh, the shelves are going to be open,” he mentioned at his Cupboard assembly. “Well, maybe the children will have two dolls instead of 30 dolls, you know, and maybe the two dolls will cost a couple of bucks more than they would normally.”

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