Trump Governance Aims for 3%‍ Economic Growth, Despite ⁤Recent GDP Dip

LOS⁣ ANGELES (AP) — ⁣The Trump administration ⁣believes ⁢its​ current ‍policies will boost U.S. ‌economic⁤ growth to nearly 3%,‌ according to Secretary Scott Bedent.⁢ Bedent made the comments Wednesday during an interview with‍ CNBC at the Milken Global Conference 2025 in Los Angeles.

When asked about the timeline for​ achieving‍ this ​growth rate, Bedent stated, ⁢”until⁤ this time⁤ next year.”

recent Economic Performance

The U.S. economy recently experienced⁢ a‌ setback. Earlier‍ this year, the gross Domestic Product⁤ (GDP) decreased at an annual rate of 0.3% compared to the previous quarter. This marked the first instance of negative growth‌ in three years,following a⁤ 1.0% decrease in the first quarter of 2022.

Trade ​Negotiations on the Horizon

“We are very close to some agreements,” ⁣bedent said, echoing President Trump’s sentiment from the previous day that deals could materialize⁤ this week. He also suggested ​that notable progress in negotiations with China could be achieved in the coming weeks.

Attracting Global Capital

Bloomberg News and other U.S. media outlets reported‍ that Bedent ​emphasized the United States as a prime investment destination, pushing ‌back against⁢ the⁤ “Sell‍ American” sentiment that‍ has gained traction in global capital markets​ since last month.

trump’s Economic Agenda

During his conference appearance, Bedent described Trump’s economic⁣ agenda as “more than a sum of each part.”⁤ He elaborated, “Trade, tax ​cuts, ⁤and deregulation may be three different policies, but they‌ are moving⁢ towards‍ the same goal to solidify the position of the United States as the home⁢ of global capital.”

Bedent further​ highlighted the strengths of the U.S.economy: “We have world-based currencies, the deepest and most liquid capital markets, and the strongest property rights. For this reason, the United States is the top destination of ⁤world capital,⁣ and the (Trump) executive’s goal is to make the United States a‌ more attractive place for you.”