President Donald Trump delivered remarks on "Investing in America" Wednesday following the release of a worrisome economic report from the Department of Commerce saying the U.S. economy shrank at an annual rate of 0.3 percent during the first three months of the year.
Watch Trump's remarks in the player above.
Trump was quick to jump to social media and blame the setbacks on his predecessor, Democratic President Joe Biden, claiming they had "NOTHING TO DO WITH TARIFFS."
During Wednesday's White House event celebrating businesses, the president read off a list of companies that have pledged to invest in the U.S., pausing for applause for each.
The list took several minutes to read and included announced investments from Eli Lilly, Novartis, AbbVie, Merck, Abbott, IBM and GE Aerospace, as well as automakers Toyota and Hyundai.
Trump invited some CEOs up to talk about their companies, including H. Lawrence Culp of GE Aerospace.
He later said he would let them tour the Oval Office and it would "blow your offices away."
Despite Trump's list there is no evidence in the economic data that the announced financial commitments have so far increased factory construction spending, which climbed sharply under Biden.