Economy surges 3% President Trump declares the "Golden Age of America" is here!

Washington report

U.S. economic growth rebounded in the second quarter of 2025, mainly due to the gradual decline of import surges triggered by President Trump's tariff measures.

According to data released by the Bureau of Economic Analysis (BEA) on Wednesday (30th), the U.S. gross domestic product (GDP) grew at an annual rate of 3% during April to June, while it fell by 0.5% in the first quarter of this year.

BEA said that the increase in imports was "mainly" due to a decrease in imports. Imports drag down GDP, and they had surged significantly in the first quarter before President Trump imposed new tariffs. The import volume decreased in the following three months as companies prepared for the implementation of the new taxes.

White House Press Secretary Leavitt (Karoline Leavitt) issued a statement today: "The GDP growth rate announced today exceeded market expectations, and the consumer confidence index also rose yesterday. The American people trust President Trump's 'America First' economic agenda - this policy continues to prove the so-called 'experts' wrong. President Trump has reduced America's dependence on foreign goods, promoted domestic investment, created thousands of jobs, and fulfilled the promise of 'making America rich again'. The data speaks for itself, there's no more excuse - 'Too late Powell' (referring to the Federal Reserve Chair) must now cut interest rates!"

The White House also stated that the so-called "experts" were wrong again. The U.S. economy grew by 3.0% in the second quarter, exceeding the expectations of economists - nearly three-quarters of economists surveyed by Bloomberg predicted incorrectly.

Here are the key points of the White House on the economy:

With inflation staying on track, consumption spending increased rapidly.

The actual growth rate of personal consumption expenditure rose from +0.5% in the first quarter to +1.4% in the second quarter.

The Personal Consumption Expenditures (PCE) price index - the Fed's measure of inflation - increased by only 2.1% in the second quarter, below 3.7% in the previous quarter; the core PCE increased by 2.5%, below 3.5% in the previous quarter.

Following the same strong 2.5% growth in the first quarter, real disposable income for Americans grew strongly by 3.0% in the second quarter.

The driver of economic growth came from the private sector, not the government. Federal government spending fell for the second consecutive quarter, while real business fixed investment increased by 1.9% after surging in the first quarter.

In the last two quarters under the Biden administration, the average growth rate of real business fixed investment was only 0.5%, whereas it was 6.1% in the first two quarters under the Trump administration.

President Trump's "Made in America" agenda is working. President Trump is reducing our reliance on foreign products, promoting American investment, and creating jobs while achieving the largest trade agreement in history.

With President Trump revitalizing the American automotive industry and encouraging domestic production, the annual growth rate of car production reached 35.5%, the largest increase since 2020.

In the final five months before President Trump took office, manufacturing output fell by 0.7%, but in the first five months of his second term, manufacturing output surged by 1.8%.

The momentum of economic growth continues to strengthen, surpassing expectations everywhere.

The core inflation rate has been below market expectations for five consecutive months, yet remains consistent with the Federal Reserve's inflation target.

In June, consumer spending and industrial production exceeded expectations, and the number of unemployment benefit applications has declined for six consecutive weeks.

During President Trump's second term, total customs and tariff revenue exceeded $150 billion, leading to a budget surplus for the first time in nearly a decade in June.

Original: https://www.toutiao.com/article/1839138156656647/

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