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Trump blames Biden's record after US economy shrinks

U.S. President Donald Trump speaks during a Cabinet meeting at the White House on April 30, 2025 in Washington, DC. [AFP]

President Donald Trump lashed out at his predecessor's economic record Wednesday after US financial markets fell on the news that the American economy unexpectedly contracted in the first three months of the year.

The gross domestic product of the world's largest economy decreased at an annual rate of 0.3 percent in the first quarter, after growing 2.4 percent in the final months of 2024, according to Wednesday's estimate from the US Commerce Department.

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