SBS News In Depth
Trump blames Biden for US economy's shrinkage since he assumed the presidency artwork

Trump blames Biden for US economy's shrinkage since he assumed the presidency

SBS News In Depth
06:16
Play episode

Show notes

The United States economy has unexpectedly shrunk at a rate of 0.3 per cent during the first three months of the year, in the first decline in gross domestic product [[GDP]] since 2022. As analysts say a recession is now more likely, President Donald Trump has told a Cabinet meeting the result is due to the Biden Administration's policies, not his tariffs plan.

More from this show

More
  1. Housing affordability hits a new low

    Housing affordability in Australia has fallen to its worst level on record, with new data showing homeowners in some capital cities are spending more than 60 per cent of their inco…

    16:20
  2. New research reveals how First Nations people with disability are treated in custody

    In the first national study of its kind, a new report by the University of Melbourne's BlakAbility team, examined the experiences of Indigenous people with lived experience of inca…

    11:37
  3. Behind the diplomacy: what the Pacific Islands Forum revealed about China's influence in the region

    It was a week of diplomacy dominated by security, climate change and growing competition for influence in the Pacific. But as issues involving China and Taiwan repeatedly pushed th…

    06:43
  4. "She changed my life": tributes flow after death of feminist trailblazer Gloria Steinem

    Tributes have poured in from around the world hailing Gloria Steinem as a "hero" after her death at the age of 92. Steinem is being remembered as one of the trailblazers for women'…

    07:43
  5. Car theft hits 17-Year high as the sharemarket breaks its losing streak

    SBS Finance Editor Ricardo Gonçalves speaks with Tony Weber, of the Federal Chamber of Automotive Industries, about the latest trends shaping Australia’s car market. Then, as the A…

    09:26
  6. Nepal’s devastating landslide, Iceland says no & the Pacific Islands Forum face-off

    Nepal’s new government struggles under a cataclysmic landslide and blames climate change. Iceland says no to even considering EU membership and the Pacific Islands Forum in disarra…

    31:02
Now Playing
Trump blames Biden for US economy's shrinkage since he assumed the presidency — SBS News In Depth | Josplay Music