President Donald Trump blamed Joe Biden for the U.S. economy’s 0.3% contraction in the first quarter of 2025 and said he plans to hold him responsible for the second quarter as well. “This is Biden,” Trump said during a Cabinet meeting, adding that negative trends carry over from the prior administration. ⁠
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He also claimed the stock market reflects the “situation we inherited,” stating, “I didn’t take over until January 20th.” In a Truth Social post, he said a boom would follow once the “Biden overhang” is cleared.⁠
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The Commerce Department’s GDP report cited a surge in imports ahead of Trump’s proposed tariffs and a drop in government defense spending as key factors behind the contraction.⁠
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A separate jobs report showed private payrolls rose by just 62,000 in April—about half of what economists expected. Markets initially fell on the news, though some losses were recouped later in the day. Trump’s remarks come as he prepares to meet with business leaders and continue defending his tariff-driven agenda.⁠
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U.S. employers added 177,000 jobs in April, surpassing expectations of 133,000 despite concerns about economic fallout from President Donald Trump’s new tariffs. The unemployment rate held steady at 4.2%, while broader underemployment dropped slightly to 7.8%. Wage growth came in below forecast, with average hourly earnings rising 0.2% on the month and 3.8% year-over-year.⁠
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Health care led hiring with 51,000 new jobs, followed by gains in transportation, warehousing, financial services, and social assistance. Manufacturing posted a minor loss of 1,000 jobs. Federal government employment fell by 9,000, attributed to Trump’s initiative with Elon Musk and the Department of Government Efficiency to cut public sector payrolls. Revisions reduced prior job growth estimates for February and March by a combined 58,000.⁠
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Market reactions included a rise in stock futures and Treasury yields, as traders delayed expectations for a Federal Reserve rate cut until July. “Job numbers remain very strong,” said Seema Shah of Principal Asset Management, though she warned of possible weakening if tariffs persist. Trump responded to the data on Truth Social, stating, “NO INFLATION, THE FED SHOULD LOWER ITS RATE!!!”⁠
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President Donald Trump’s administration is preparing to accept a 13-year-old Boeing 747-8 from Qatar’s royal family for temporary use as Air Force One, according to unnamed sources cited by ABC News. ⁠
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The jet, described by Trump as a “very public and transparent transaction,” is expected to be modified by the U.S. Air Force for presidential use before being transferred to the Trump Presidential Library Foundation by January 2029. ⁠
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Trump previously toured the aircraft in Florida, and the estimated $400 million plane will be outfitted with security upgrades by L3Harris.⁠
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The legality of the arrangement has drawn scrutiny due to constitutional restrictions on gifts from foreign governments. ⁠
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According to sources, Attorney General Pam Bondi and White House counsel David Warrington concluded that because the gift is directed to the government and not conditioned on an official act, it does not violate the emoluments clause or federal bribery laws. ⁠
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Press secretary Karoline Leavitt said the administration is following “all applicable laws,” while Qatar’s Ministry of Defense is still in talks with the Pentagon regarding the handover.⁠
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Democratic lawmakers responded critically. Sen. Chuck Schumer posted, “Nothing says ‘America First’ like Air Force One, brought to you by Qatar,” while Rep. Adam Schiff referenced the Constitution’s Title of Nobility clause. ⁠
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Trump, meanwhile, argued that rejecting the gift would be “stupid” and claimed Democrats want taxpayers to “pay TOP DOLLAR” instead. ⁠
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The current Air Force One fleet, contracted for replacement since 2018, has faced delays, with new jets not expected until 2027.⁠
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President Donald Trump declared that any country or individual purchasing oil or petrochemicals from Iran will face U.S. secondary sanctions and be barred from doing business with the United States. ⁠
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In a post on Truth Social, he stated: “Any Country or person who buys ANY AMOUNT of OIL or PETROCHEMICALS from Iran will be subject to, immediately, Secondary Sanctions. They will not be allowed to do business with the United States of America in any way, shape, or form.”⁠
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This announcement aligns with Trump’s ongoing “maximum pressure” campaign, which seeks to halt Iran’s oil exports entirely. ⁠
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His administration accuses Iran of using energy revenue to support militant groups in the Middle East and continues to negotiate over its nuclear ambitions—an effort Tehran denies is related to weapon development.⁠
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The news triggered a jump in oil markets, with U.S. crude rising nearly 2% to $59.32 per barrel and Brent crude climbing to $62.21. ⁠
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