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Christal Hayes
BBC News, Los Angeles
President Donald Trump has asked for more time about the American economy as it has contracted a contract for the first time in three years, the fear of the recession.
He said the figure was misleading because companies had stored import prior to his imposition of rates.
However, Trump said that $ 8TN (£ 6TN) of inward investments was promised, which he claimed would recover the American production -based.
The American economy sustained an annual rate of 0.3%, said the American trade department, a sharp decline after the growth of 2.4% in the previous quarter. It comes when Trump marks 100 days in function, with opinion polls that indicate public dissatisfaction with his economic stewardship.
On Wednesday afternoon during an event of the White House attended by managers, Trump blamed his democratic predecessor, President Joe Biden, to the disappointing gross domestic product data.
“This is Biden’s economy because we took over it on January 20,” said Trump. “I think you should give us a little time to get moving.”
It comes in the aftermath of the import load of the Republican president, who have disturbed global trade and markets.
Trump’s finger that points to Biden pulled the Democrats contempt.
Congressman Hakeem Jeffries, minority leader of the American house of representatives, said: “This is not the economy of Joe Biden, Donald, it is your economy.
“It’s the Trump economy, it’s a failed economy and the American people know it.”
During the White House event of Wednesday, Trump praised planned investments in technology, health care and infrastructure.
He introduced CEOs of large companies, including Hyundai’s Jose Munoz, Toyota’s Ted Ogawa and Johnson & Johnson’s Joaquin Duato.
Trump also insisted on the congress to pass on his tax assessment, including trillions of dollars in tax and cuts, but is confronted with the opposition of Democrats and some Republicans.
On a television performance earlier in the day with cabinet members, Trump played the fear of shortages of items such as toys, because trade between the US and China is sharp.
“Well, maybe the children must have two dolls instead of 30 dolls, you know?” he said. “And maybe the two dolls cost a few dollars more than normal.”
Trump has set 10% on import to the US from almost all countries, after having announced a 90 -day break for higher rates. The amount paid by these countries could change after the period ends in July.
Another rate of 25% has been imposed on Mexico and Canada. However, the taxes on China have led to a total trade war with the second largest economy in the world.
Trump imposed import tax of a maximum of 145% in Chinese goods that came in the US and China hit back with a tax of 125% on American products.
His administration said that when the new rates were added to existing, the taxes on some Chinese goods could reach 245%.
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