Trump Says 'Be Patient' as US Economy Contracts in Q1; Ukraine, US Expected to Sign Minerals Deal

President Donald Trump said on Wednesday that Americans should be patient in the face of a first quarter economic contraction, arguing that his tariffs would eventually lead to a boom in the U.S. economy. The economy declined by 0.3 percent in the first quarter, down from the 2.4 percent expansion in the previous quarter, the Bureau of Economic Analysis said in a statement. Trump wrote on Truth Social: "This will take a while, has NOTHING TO DO WITH TARIFFS, only that he left us with bad numbers, but when the boom begins, it will be like no other. BEPATIENT!!!"

Ukraine and the United States could sign a minerals deal within the next 24 hours after the final details are worked out, Ukraine's prime minister said on Wednesday. The reworked agreement has become a "real partnership deal," which could consider future U.S. aid as part of contributions to the fund, Prime Minister Denys Shmyhal said in televised remarks.