United States President Donald Trump said on Wednesday that the current situation regarding the US stock markets and the latest data reports showing "bad numbers" are left over from former US President Joe Biden, and claimed that the figures have "nothing to do with tariffs."

"This is Biden's Stock Market, not Trump's. I didn't take over until January 20th. Tariffs will soon start kicking in, and companies are starting to move into the USA in record numbers. Our Country will boom, but we have to get rid of the Biden 'Overhang,'" Trump said in a post on Truth Social, and noted that "when the boom begins, it will be like no other," urging to "BE PATIENT!"

The US president's comments follow the latest reports showing that the gross domestic product (GDP) in the country contracted by 0.3% in the first quarter of 2025, while the number of jobs in the private sector grew less than expected.