WEST PALM BEACH, Fla. — President Donald Trump is dismissing enterprise considerations over the uncertainty attributable to his deliberate tariffs on a variety of American buying and selling companions and the prospect of upper costs, and isn’t ruling out the potential for a recession this yr.
After imposing after which shortly pausing 25 p.c tariffs on imports from Mexico and Canada that despatched markets tumbling over considerations of a commerce conflict, Trump stated his plans for broader “reciprocal” tariffs will go into impact April 2, elevating them to match what different international locations assess.
Requested concerning the Atlanta Fed’s warning of an financial contraction within the first quarter of the yr, Trump seemingly acknowledged that his plans may have an effect on U.S. progress. Nonetheless, he claimed, it could in the end be “great for us.”
When questioned whether or not he was anticipating a recession in 2025, Trump responded: “I hate to predict things like that. There is a period of transition because what we’re doing is very big. We’re bringing wealth back to America. That’s a big thing.” He then added, “It takes a little time.”
On Wall Avenue, it was a tricky week, with wild swings dominated by worries concerning the financial system and uncertainty about what Trump’s tariffs will carry.
Trump brushed apart considerations from companies looking for stability as they make funding choices. He stated that “for years the globalists, the big globalists have been ripping off the United States.”