President Donald Trump was unfazed by a decline in the economy, blaming it initially on former President Joe Biden and then stating American kids can make do with "two dolls instead of 30 dolls."

President Donald Trump on Wednesday acknowledged that his tariffs could result in fewer and costlier products in the United States, saying American kids might "have two dolls instead of 30 dolls," but he insisted China will suffer more from his trade war.

As part of his events marking 100 days in office, President Donald Trump convened his Cabinet officials on Wednesday for a meeting at the White House.Trump also sat down exclusively with ABC News on Tuesday for the first broadcast interview marking this milestone of his second term.

President Trump's first 100 days in office have already started to reshape international trade, but tariffs and other trade policies are also reshaping international geopolitical relations.

Trump and his aides struggled to coalesce around a message about the GDP number, simultaneously saying it was bad because of Biden administration policies but also good because of Trump's efforts.

The president denied that his tariffs had anything to do with the contraction, blaming the "Biden 'Overhang'."