Economy · 2025-04-30
Tariffs had nothing to do with the stock-market downturn
Misleading
Trump asserted that market losses were unrelated to his tariffs and instead blamed Biden’s economic numbers.
What the evidence shows
Market experts identified tariff announcements as an important source of market volatility; many factors affect stock prices, so exclusive attribution to Biden was not supported.
What happened next
Assessment reflects the cited reporting and data available at the time; check for subsequent revisions.
Assessment notes
Editorial paraphrase, not a verbatim quote. Assessment concerns the narrow claim stated here. Where an exact speech date is not established, the date is an approximate month placeholder.