#BREAKING : U.S. GDP unexpectedly declined by 0.4% in Q1 2024, igniting a fierce political showdown. Former President Donald Trump blamed the downturn on “failed Bidenomics,” accusing President Biden of fostering high inflation, weak growth, and anti-business policies.
Trump pledged a dramatic economic revival, emphasizing his tariff-driven strategy: “New tariffs are coming, and companies are returning to America in record numbers.” He promised a “HISTORIC” comeback but warned that reversing current challenges will take time.
Analysts point to weaker consumer spending and declining exports as key causes of the slowdown, though unemployment remains low. Trump dismissed inflation concerns tied to tariffs, stating the real issue lies in Biden’s leadership.
The Biden administration hit back, crediting 2023’s strong economic growth to its policies and accusing Trump of distorting facts. Markets reacted cautiously, while the Fed considers possible rate cuts.
Highlights:
GDP dip intensifies 2024 election economic battle
Trump pushes tariffs, promises business resurgence
Biden team defends track record, slams Trump rhetoric
Experts debate whether it’s a brief dip or deeper issue