Trump says he should be given time to fix ‘Biden’s economy’

“In the first-quarter GDP numbers, just out today, core GDP…was up plus three percent. But this is Biden’s economy because we took over on Jan. 20, and I think you have to give us a little bit of time to get moving — but this is the Biden economy,” Trump said during a White House event on “Investing in America.”

He was responding to a Commerce Department report showing that GDP fell at a 0.3% annualized rate last quarter — the first quarter of negative growth since 2022, when Biden was in the White House.

He also proposed corporate tax cuts from 21% to 15% for companies that produce in the US.

“If you make it in the USA — those chips, those beautiful chips — you're going to be all the way down to 15%,” he said.

Trump pledged to pass what he called the “largest tax cuts in American history” in the coming weeks.

“We’ll be doing things for business like you’ve never seen before,” he said.

He thanked several business leaders for their US investments, including Chobani CEO and Turkish-American businessman Hamdi Ulukaya, who was among those invited to the White House.

Chobani has invested a total of $1.7 billion in the US, including $1.2 billion for a new facility in Rome, New York, and $500 million to expand its existing plant in Twin Falls, Idaho.