Trump: ‘2 Dolls Instead of 30’ for US Kids Fine If China Hurts More/ Newslooks/ WASHINGTON/ J. Mansour/ Morning Edition/ President Donald Trump dismissed concerns over the U.S. economy shrinking in early 2025, saying Americans may buy fewer toys, but China will suffer more. He blamed former President Joe Biden for economic troubles, insisting tariffs will bring long-term prosperity. Critics warn Trump’s trade policies could trigger a recession.
Trump’s Tariff Gamble: Quick Looks
- U.S. economy shrank 0.3% in Q1, first decline in three years
- Trump blames “Biden overhang,” says tariffs aren’t the cause
- Says Americans may “have two dolls instead of 30”
- Adds China is suffering more due to slowed factory activity
- Surge in imports before tariffs dragged GDP downward
- Trump touts tariffs as both economic tools and revenue source
- Defends economic strategy during NewsNation town hall
- Cabinet highlights investment from companies like Apple, Nvidia
- Trump dismisses role of Biden-era CHIPS Act incentives
- Democrats say tariffs are stalling growth and sowing uncertainty
Trump: ‘2 Dolls Instead of 30’ for US Kids Fine If China Hurts More
Deep Look
Trump Downplays Economic Slowdown, Insists Tariffs Will Trigger U.S. Manufacturing Boom
WASHINGTON — As the U.S. economy contracted for the first time in over three years, President Donald Trump attempted to calm public concern by minimizing the effects of his escalating tariff regime, joking that American children might have “two dolls instead of 30.”
At a Cabinet meeting and later during a televised town hall, Trump responded to the Commerce Department’s report that gross domestic product shrank by 0.3% in the first quarter, pinning the blame on the previous Biden administration.
“This is Biden’s Stock Market, not Trump’s,” he posted on Truth Social, adding, “Tariffs will soon start kicking in… Our Country will boom, but we have to get rid of the Biden ‘Overhang.’”
But even as Trump pushed optimism about long-term gains, the economic data suggests warning signs. The GDP drop was driven largely by a rush of imports as companies scrambled to beat the president’s new wave of tariffs — including a 145% duty on Chinese goods and additional taxes on steel, aluminum, and autos. Economists noted that consumer spending may have temporarily spiked in anticipation of price hikes, masking deeper vulnerabilities.
The Price of a Trade War
Trump appeared to brush off the real-world effects of his trade policies.
“You know, somebody said, ‘Oh, the shelves are going to be open,’” Trump said at the Cabinet meeting. “Well, maybe the children will have two dolls instead of 30 dolls. So maybe the two dolls will cost a couple bucks more than they would normally.”
While Trump cast the tariffs as a strategic tool to bring manufacturing back to the U.S., Democrats and trade experts argue they’re creating confusion, uncertainty, and higher costs for American consumers and businesses.
“In just 100 days, President Trump has taken the U.S. economy from strong, stable growth to negative GDP,” said Heather Boushey, former member of Biden’s Council of Economic Advisers. “This astonishing turn of fortune is directly due to the incoherence of his economic policy and his mismanagement of federal policy more generally.”
Cabinet Celebrates Investment Amid Mixed Messaging
At the same Cabinet meeting, Commerce Secretary Howard Lutnick touted investments from Taiwan Semiconductor Manufacturing Company (TSMC), referencing a recent trip to Arizona to inspect its chip facilities. The first plant was announced under Trump in 2020, but two others came during Biden’s presidency, aided by the bipartisan CHIPS and Science Act.
Trump ignored the law’s role in incentivizing domestic semiconductor production. “They’re building because of the tariffs,” he said.
This dual messaging — claiming tariffs will boost growth while denying responsibility for near-term damage — is consistent with Trump’s trade strategy. While he portrays tariffs as leverage in deal-making with foreign powers, they’ve also become a financial backbone of his broader tax-cut proposals. Revenue from tariffs is expected to fund large portions of Trump’s planned $5 trillion in tax reductions.
Democrats Sound the Alarm
Democratic lawmakers say Trump’s reliance on tariffs is misguided and dangerously destabilizing. Rep. Suzan DelBene (D-Wash.) warned that “random” policy shifts are deterring investment.
“Chaos and dysfunction are not going to help build investment,” said DelBene. “A strong economy needs stability and certainty. We haven’t seen that.”
Even as the unemployment rate remains relatively low at 4.2%, fears of recession loom. Economists are watching closely to see whether continued volatility, especially in global supply chains and consumer spending, pushes the U.S. into a deeper downturn.
Looking Ahead
During a NewsNation town hall Wednesday night, Trump was asked if he regretted anything in his first 100 days. He responded with confidence.
“I just think that I’ll be able to convince people how good this is,” he said.
But that may be a difficult sell as inflation concerns resurface, corporate earnings wobble, and market instability grows. Trump insists Americans should “be patient,” yet for families facing rising costs and businesses weighed down by trade uncertainty, patience may be wearing thin.
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