Donald Trump has claimed that the strong aspects of the current US economy are a result of his own policies, while placing the blame for economic challenges on his successor, President Joe Biden, whom he accused of doing “a terrible job”.
Speaking on NBC’s Meet the Press on Sunday, the former president stated: “Ultimately, I take responsibility for everything. But I’ve only just been here for a little more than three months.”
At a time of mixed economic signals and growing anxiety over his aggressive trade measures, Trump maintained that “certain aspects” of the economy could be attributed to his actions. “I was able to get down the costs,” he said.
He added: “I think the good parts are the Trump economy and the bad parts are the Biden economy because he’s done a terrible job.”
Although public concern over the economy appears to be rising, key indicators remain relatively stable, with unemployment at 4.2% and inflation at 2.3% as of March — slightly above the Federal Reserve’s target.
Nevertheless, economists and central bankers have downgraded growth forecasts, citing concerns over slowing momentum and rising inflation and joblessness.
When asked whether the US was heading into a recession, Trump responded, “Anything can happen,” but added that the country is in a “transition period” and ultimately “we’re going to do fantastically,” promising “the greatest economic boom in history.”
Addressing strained trade ties with China following his imposition of a 145% tariff, Trump said, “We’ve essentially cut off trade relationships by putting that much of a tariff on,” but added, “That’s okay… That means that we’re not losing.”
He suggested the Chinese were eager for a deal and hinted that he might eventually reduce tariffs.
Trump, a frequent critic of Federal Reserve Chair Jerome Powell — whom he appointed — reiterated his stance that interest rates should be lowered. “Now is the perfect time,” he asserted.
Although Trump previously suggested removing Powell from the post, he told NBC he now plans to wait until Powell’s term ends in May 2026 before appointing a successor.