Washington, D.C. – Former President Donald Trump claimed credit for the U.S. economy’s strengths while blaming President Joe Biden for its struggles in a wide-ranging interview on NBC’s Meet the Press with Kristen Welker that aired Sunday.
“I think the good parts are the ‘Trump economy’ and the bad parts are the ‘Biden economy’ because he’s done a terrible job,” Trump said.
The remarks come as economic concerns weigh heavily on Americans. A CNN/SSRS poll released Monday found that 66% of respondents feel pessimistic (29%) or afraid (37%) about the economy, with just 34% expressing optimism. Additionally, 69% believe a recession in the next year is at least somewhat likely, including 32% who say it is “very likely.”
Trump Takes Credit for Lower Costs, Defends Tariffs
Trump asserted that his policies have helped reduce costs, though inflation remains a concern. “I was able to get down the costs. But even that, it takes a while to get them down. But we got them down good,” he said.
However, Consumer Price Index data shows grocery prices in March 2025 were 2.41% higher than the previous year—the steepest annual increase since August 2023.
When pressed about stock market volatility following his sweeping tariff announcements, Trump dismissed concerns, pointing to recent gains. “I’ve only just been here for a little more than three months. But the stock market, look at what’s happened in the last short period of time,” he said, referencing a recent rally.
The S&P 500 closed Friday at 5,686.67, down 6% since Trump took office. However, it surged 9.5% on April 9—its best single-day performance in nearly 17 years—after Trump paused tariffs on most nations.
“I don’t want anything to go down, but sometimes you have to take medicine to fix something,” Trump said, downplaying market fluctuations.
Tariffs Could Be Permanent, Small Businesses Left Out
Trump defended his aggressive trade policies, including a 145% tariff on Chinese imports and a universal 10% tariff during a 90-day pause on reciprocal tariffs. When asked if some tariffs could become permanent, he refused to rule it out.
“No, I wouldn’t do that. Because if somebody thought they were going to come off the table, why would they build in the United States?” he said.
While major corporations—particularly automakers—have received tariff delays and partial reimbursements, Trump offered no relief for small businesses, stating, “They’re not going to need it.”
Recession Fears Grow as Trump Dismisses Concerns
Economists have raised alarms about a potential downturn, with JPMorgan estimating a 60% chance of recession, up from 40%, and Goldman Sachs pegging it at 45%.
Trump dismissed these worries, saying, “Everything’s OK. This is a transition period. I think we’re going to do fantastically.”
Pressed on whether a recession could occur, he conceded, “Anything can happen.”
As prices rise due to tariffs, Trump suggested consumers may need to adjust their spending habits. “The tariffs are going to make us rich. We’re going to be a very rich country,” he said.
With economic uncertainty looming, Trump’s policies remain a focal point of debate as businesses and voters assess their impact.