Press Release: White House Defends Economic Policies Amid Concerns
Washington, D.C. — In a briefing on May 1, 2025, White House Deputy Chief of Staff Stephen Miller asserted that President Donald Trump’s economic strategies are designed to "unleash this era of American prosperity," despite a contraction in the U.S. economy. The announcement followed a report indicating a 0.3% decrease in GDP, marking the first negative quarter since early 2022.
Miller addressed fears from the small business community over Trump’s aggressive tariffs, including a staggering 145% on goods from China and up to 46% on products from Vietnam. He emphasized that these tariffs, which serve as import taxes, will generate significant revenue, enabling tax cuts and reforms as part of a major budget reconciliation package currently being debated.
However, concerns are mounting within the business sector. The U.S. Chamber of Commerce warned of "irreparable harm" to small businesses, highlighting a sharp decline in consumer sentiment, the worst since the 1990 recession. Economists are awaiting a crucial jobs report that may provide insight into the fragile U.S. economic landscape.
Miller concluded that the administration is committed to negotiating improved trade agreements before the July deadline, aiming to balance national security with economic growth.
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