[UNITED STATES] Former President Donald Trump took credit for what he called the “good parts” of the current U.S. economy while placing the blame for its “bad parts” squarely on the shoulders of his predecessor, President Joe Biden.
The comments come as economists continue to debate the short-term implications of Trump’s sweeping tariff policies. Some warn of rising inflation and consumer costs, while others argue that protectionist measures may provide a boost to American manufacturers. The International Monetary Fund recently downgraded its U.S. economic growth forecast, pointing to ongoing trade tensions—a move the White House has dismissed as needlessly pessimistic.
Trump stood by his tariffs, insisting they would ultimately benefit the country. “I take responsibility for everything, but I’ve only been here a little more than three months,” Trump said. “The tariffs have just started kicking in. … The tariffs are going to make us rich. We’re going to be a very rich country.”
His defense of protectionist trade policies echoes his messaging from the 2016 campaign, when he framed tariffs as a pathway to reviving U.S. industry. Critics, however, argue that the costs are hitting consumers, with prices rising on everyday imports including electronics and apparel. Retail industry leaders have cautioned that further tariffs could put additional strain on businesses still grappling with post-pandemic supply chain issues.
This isn’t the first time Trump has pointed to Biden when discussing economic setbacks. Just last week, he attributed the first-quarter economic contraction to the current administration.
Trump also reinforced remarks he made earlier in the week during a Cabinet meeting, dismissing concerns that tariffs could lead to shortages of consumer goods. “I don’t think a beautiful baby girl — that’s 11 years old — needs to have 30 dolls,” he said. “They don’t need 250 pencils, they can have five.”
The comments drew mixed reactions. Supporters praised what they saw as an appeal to frugality, while economists criticized the analogy for overlooking deeper issues surrounding the availability of essential goods. Industries like automotive and electronics are already facing shipment delays, though administration officials argue these disruptions are temporary.
In the interview, Trump downplayed fears that his trade strategy could have lasting negative effects on the economy—even if a short-term recession were to occur. “Everything’s OK. What we are — I said, this is a transition period. I think we’re going to do fantastically,” Trump told NBC’s Kristen Welker.
Nevertheless, analysts remain cautious. They’re watching for fallout from potential retaliation by major trade partners. The European Union recently announced it is considering new tariffs on American agricultural products, raising the stakes in a trade standoff that some fear could escalate into a broader economic conflict.
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