Trump on if he's expecting recession this year: 'I hate to predict things like that'
President Trump faced a slew of questions about the economic ripple effects of his tariff policy during an interview with Maria Bartiromo on Fox News, including whether he worried about a looming recession for the U.S. economy.
“I hate to predict things like that,” Trump told Bartiromo on “Sunday Morning Futures” when asked if he expected a recession this year. “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. And there are always periods of — it takes a little time. It takes a little time. But I think it should be great for us. I mean, I think it should be great.”
Bartiromo spent a significant portion of the interview pressing Trump on his use of tariffs, how quickly some of his decisions have changed and how it has caused concerns from some business leaders.
“I think CEOs want to see predictability. They say, look, I have to speak with shareholders,” Bartiromo said. “Can you give us a sense of whether or not we are going to get clarity for the business community?”
“Well, I think so. But you know, the tariffs could go up as time goes by, and they may go up and, you know, I don't know if it's predictability,” Trump responded.
Trump has acknowledged there may be “disruptions” to the economy because of tariffs on imports. Bartiromo asked if he was referring to a dip in the stock market in recent days over Trump’s tariffs targeting Canada and Mexico.
“What I have to do is build a strong country,” Trump said. “You can’t really watch the stock market. If you look at China, they have a 100-year perspective. We go by quarters. And you can’t go by that. You have to do what’s right.”
After Trump railed against inflation that he blamed on the Biden administration, Bartiromo noted one CEO told her they would have to raise prices because of tariffs. Trump shrugged off that comment, pointing to lower interest rates as a boon to the economy.
Bartiromo asked if businesses would have clarity after April 2, when Trump has pledged to impose reciprocal tariffs on other nations that do levy duties on American products. Trump suggested those tariffs could increase over time, though they would likely not decrease.
"That’s almost a soundbite. They always say that. 'We want clarity.' Look, our country has been ripped off for many decades," Trump said.
Trump's broad use of tariffs has been unpredictable early in his second term. He announced a 25 percent tariff on Mexico and Canada in early February, then delayed it for one month. After it was imposed last week, Trump announced exemptions for auto products and goods covered under a 2020 trade agreement between the three North American countries.
Trump has also pledged to impose additional tariffs on specific goods, including automobiles, lumber, steel and aluminum, pharmaceuticals and semiconductors.
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