U.S. Treasury Secretary Bessant: The decline in GDP may be due to inventory backlogs of imported goods.

U.S. Treasuries gave up gains as the ISM manufacturing index beat expectations.

1. Blame Biden for negative economic growth --The US GDP unexpectedly fell into contraction in the first quarter, and Trump posted that this is Biden's stock market, not Trump's. He did not take over until January 20. The economic recovery will take some time, and it has nothing to do with tariffs. It's just that Biden left bad numbers, but when the US economy starts to prosper, it will be unique. Be patient! ! 2. Saying that a "big beautiful bill" that may be bigger than tariffs is brewing--Trump said that the "big beautiful bill" currently being brewed may be "bigger than tariffs." He praised Senate Majority Leader Thune's work on legislation, adding that Democrats "tried to stop it everywhere," and he warned that "if they succeed, it would mean a 58% tax increase." Trump reiterated that the proposed spending bill would mean "the biggest tax cut in American history." 3. Shouting to Musk: Stay as long as you want. --US media reported that Musk is no longer stationed in the White House, and the DOGE team will continue to work. Trump said: Musk wants to return to his car business. He has been a great help, and he can stay as long as he wants. Musk has been treated "unfairly". 4. Saying the stock market is just an "indicator" -US President Trump said at a cabinet meeting that he does not intend to "take credit" or "take blame" for the situation in the stock market. The stock market is just an indicator. The situation in the stock market shows how bad a situation they have inherited, and in the next quarter, the market will still see the impact of Biden. 5. Talk to the Canadian Prime Minister and will meet in the near future -US President Trump said that Canadian Prime Minister Carney called him yesterday and said he hoped to reach an agreement. Trump believes that the United States will establish a good relationship with Canada. Trump also said that Canadian Prime Minister Carney will visit the White House next week or sooner. 6. Trump plans to approve the resumption of arms sales to Ukraine -The Trump administration notified Congress on April 30 that it plans to approve the export of defense-related products worth $50 million or more to Ukraine through direct commercial sales. Ukrainian media said that this is the first time Trump has planned to approve arms exports to Ukraine since taking office. 7. Signed a natural resource development agreement with Ukraine -The United States and Ukraine reached an agreement on access to Ukraine's natural resources on Wednesday, a move by Kiev to win the support of US President Trump in ceasefire negotiations with Russia. The agreement will allow the United States to have privileges in new investment projects to develop Ukraine's natural resources, including aluminum, graphite, oil and gas. "We have a deal, our money is safe, and we can start digging and doing what we have to do," Trump said at a cabinet meeting at the White House earlier on Wednesday.