University of Kwazulu-Natal

Trump Takes Victory Lap On Economy Amid Recession Fears Time

Bonisiwe Shabane
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trump takes victory lap on economy amid recession fears time

This article is part of The D.C. Brief, TIME’s politics newsletter. Sign up here to get stories like this sent to your inbox. Every holiday season, mailboxes fill up with family letters from beloved aunts who tell us about the cousins’ developments, the vacations and pets, goals for the new year—all coated with as much sugar as... On Wednesday evening, the world was treated to President Donald Trump’s Christmas letter, delivered in a disjointed rant from the White House. It was a self-graded check-in, coming nearly one year into office as the public is increasingly skeptical about what they signed up for when they gave Trump the keys to the White House for...

And unlike his position when the year started, Trump now seems to have lost control over his Republican Party, as more lawmakers are starting to realize the prices they might pay for their continued... It was, as departing Republican Rep. Marjorie Taylor Greene observed on Tuesday, a sign that “the dam is breaking.” Even so, it sure felt like Trump was taking a self-congratulatory victory lap even as those watching were wondering when he... Trump’s message, delivered in just under 20 minutes from the White House’s Diplomatic Reception Room, would have fit in naturally at a campaign-style rally. But those events are not always carried live by the major networks and treated as primetime must-watch events. So Americans and those around the globe watched as Trump unleashed his favorite set of grievances about Democrats, migration, border policies, transgender rights, wokeness, self-dealing, the environment, the economy—basically every issue or piece of...

The U.S. economy's 4.3% third-quarter growth ignited a political victory lap and a fierce economist debate, as President Donald Trump celebrated. Analysts, however, question how much of the boom can last. Trump took to social media minutes after the GDP release, framing the report as a sweeping validation of his economic agenda. "Q3 GDP came in at 4.3%, blowing past expectations," Trump said. "The success is due to good government, and tariffs."

He added that "60 of 61 Bloomberg economists got it wrong," highlighting that consumer spending was "strong," net exports were "way up," trade deficits were "way down," and that there was "no inflation." The data itself was undeniably strong. The Bureau of Economic Analysis reported that GDP expanded at a 4.3% annualized pace in the third quarter, well above expectations of 3.3% and faster than the prior quarter's 3.8% growth — the strongest... For a brief, shining moment last week, it seemed as if the U.S. economy had dodged a tariff-powered bullet. Gross domestic product grew at an annual rate of 3%, the government announced Wednesday, rather higher than the 2.3% projected by economists.

“WAY BETTER THAN EXPECTED!” President Trump crowed on Truth Social. He claimed that this justified a reduction in interest rates by the Federal Reserve Board, lower rates being one of his hobby horses. (Never mind that faster growth generally prompts the Fed to raise interest rates to keep the economy from overheating.) “The Trump Economy has officially arrived,” Commerce Secretary Howard Lutnick posted on X after the GDP report. “Congratulations America: 3 percent today, and we’re just getting started.” ‘Today’s jobs report is what entering a recession looks like.’

— Josh Bivens, chief economist at the Economic Policy Institute Josh Boak, Associated Press Josh Boak, Associated Press Paul Wiseman, Associated Press Paul Wiseman, Associated Press WASHINGTON (AP) — President Donald Trump is getting his way with the world economy. Trading partners from the European Union to Japan to Vietnam appear to be acceding to the president's demands to accept higher costs — in the form of high tariffs — for the privilege of... For Trump, the agreements driven by a mix of threats and cajoling, are a fulfillment of a decades-long belief in protectionism and a massive gamble that it will pay off politically and economically with...

On Sunday, the United States and the 27-member state European Union announced that they had reached a trade framework agreement: The EU agreed to accept 15% U.S. tariffs on most its goods, easing fears of a catastrophic trans-Atlantic trade war. There were also commitments by the EU to buy $750 billion in U.S. energy products and make $600 billion in new investments through 2028, according to the White House. After falling to an 11-year low during the Biden Administration, new polling shows “Americans’ faith in the economy and direction of the nation is back on track and shooting higher” amid President Donald J. Trump’s relentless America First agenda.

In fact, the share of Americans who say gas prices are a “major problem” is down by 15% over last year; the same is true for housing costs (down 11%) and grocery prices (down... Meanwhile, small business owners are feeling renewed optimism driven by a sharp rise in approval “across the political spectrum” for President Trump’s economic policies. Seven weeks into his term, concerns are growing about a possible recession. Then-candidate Donald Trump, at a campaign rally last August as the 2024 race for the White House was heating up, made a promise to voters to quickly bring economic relief if elected. "Starting on Day 1, we will end inflation and make America affordable again," he said at a rally in Montana, where he told supporters: "This election is about saving our economy." A week later, he made a show of displaying cartons of eggs, bacon, milk and other grocery products outside his New Jersey golf course as he railed against the Biden administration's policies.

"When I win, I will immediately bring prices down," Trump said at the time. President Donald Trump rallied supporters in Warren, Michigan, marking his first 100 days in office with bold claims about the U.S. economy, promises of sweeping tax cuts, and sharp criticism of Democrats. Speaking near Detroit, Trump declared his administration had built "the greatest economy in the history of our country" and vowed to do even better if re-elected. Trump proposed eliminating taxes on tips, overtime, and Social Security, calling it the “largest tax cut in American history.” He reiterated support for tariffs on China, claiming they would revive U.S. manufacturing and stop “the greatest job theft in the history of the world.” Earlier in the day, he signed an executive order easing auto tariffs, aiming to support Michigan’s crucial automotive industry.

At a National Guard base, Trump announced a $1 trillion defense investment and promised 21 F-15X fighter jets to Selfridge Air Base—a move Michigan Governor Gretchen Whitmer praised as a bipartisan victory for local... Despite the crowd’s enthusiasm, national sentiment appears less favorable. A recent Reuters/Ipsos poll showed only 42% of Americans approve of Trump’s performance, with just 36% supporting his economic leadership. Concerns are growing over potential recession risks as trade tensions escalate. Democrats pushed back with a “100 days of chaos” campaign, criticizing Trump’s governance and warning of constitutional overreach. Protesters outside the rally echoed concerns about civil rights and economic instability.

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