US President Donald Trump on Wednesday counseled patience, cast blame and claimed victory in the face of a first-quarter U.S. economic contraction and tariffs that have taken a bite out of his popularity, Reuters reported.

BBC meanwhile reported that President Donald Trump has asked for more time on the US economy as it contracted for the first time in three years, stoking recession fears. Speaking at a White House event attended by business leaders on Wednesday afternoon, Trump blamed his Democratic predecessor, President Joe Biden, for the disappointing gross domestic product data.

"This is Biden's economy because we took over on January 20th," BBC quoted Trump as saying. "I think you have to give us a little bit of time to get moving."

According to Reuters, the U.S. Commerce Department's advance gross domestic product data pointed to the first quarterly decline in three years. Trump said the figure was misleading because companies had stockpiled imports ahead of his imposition of tariffs.

Trump and his aides had difficulty settling on a clear message about the GDP figure—criticizing it as weak due to Biden administration policies, while at the same time claiming it was strong thanks to Trump’s own efforts.

"You probably saw some numbers today, and I have to start off by saying that's Biden," Reuters quoted Trump as saying, without elaborating as he referred to his Democratic predecessor.

The US economy contracted at an annual rate of 0.3%, the US commerce department said, a sharp downturn after growth of 2.4% in the previous quarter. It comes as Trump marked 100 days in office, with opinion polls indicating public discontent over his economic stewardship, BBC added.

Meanwhile, a Reuters/Ipsos poll completed on Sunday showed 42% of respondents approve of Trump's performance in office, and 53% disapprove. The approval rate stood at 47% in the hours after his January 20 inauguration.

The share of respondents who approve of Trump's economic stewardship declined a percentage point to 36% from the prior week, the lowest level in his current term or in his 2017-2021 presidency, while disapproval rose 5 points to 56%, added Reuters.

According to Reuters, fears of a recession have surged in recent weeks as Trump has launched a global trade war, hiking tariffs so high that economists warn trade with some countries - notably China - could grind nearly to a halt. The moves have shaken investors and companies.