Whilst that’s a possible explanation, correlation does not imply causation. There are many other potential contributing factors (increased loneliness, economic hardship, acceptability of suicide, changes to how deaths by misadventure vs suicide are recorded, etc) and more research will be needed to identify which, if any, played a role in the observed change.
Former President Donald J Trump has more important things on his mind when he wakes up. Like saving the economy, securing the borders, and hoping his bladder holds out while playing his daily game of hunt the mushroom.