U.S. President Donald Trump declined to rule out the possibility of the U.S. economy falling into a recession in an interview with Fox News broadcast on Sunday (March 9).
"I hate to predict things like that. There is a period of transition ... It takes a little time," Trump said when the anchor asked whether he expects a recession in the year ahead.
In the interview, he also admitted a possible rise in inflation and downplayed the recent stock market volatility following his new tariff policy, saying, "You have to do what's right" even if markets do not like it.
Trump's words contradicted U.S. Commerce Secretary Howard Lutnick's remarks on Sunday (March 9) that no recession was in sight, and also reversed the president's previous statement that his policies would bring quick and remarkable results for the U.S. economy.
On Feb. 1, Trump signed an executive order imposing a 25% tariff on products imported from Mexico and Canada. Two days later, he announced a 30-day postponement for the implementation of these tariffs, continuing negotiations with the two countries.
As a result of this decision, the tariffs took effect on March 4. On March 6, however, Trump signed another executive order adjusting the tariffs, exempting imported goods that meet the favorable conditions of the US-Mexico-Canada Agreement (USMCA) from these duties.
The frequent changes in tariff policy have caused significant volatility in the stock market, leading to increased uncertainty among investors.
(With input from Xinhua)
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