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The US President says the economy is in a “transition period” against the backdrop of uncertainty about his trade policies.
The United States President Donald Trump has declined to exclude the possibility of the world's largest economy in a recession against the backdrop of market fears about his America First Economic Program.
In an interview with Fox News, which aired on Sunday, Trump was destroyed when he asked him if he was expecting a recession this year.
“I hate to predict such things. There is a period of transition because what we do is very great. We return wealth to America. This is a big thing, “Trump said during an interview with Futures Sunday Morning.
“It takes a little time, but I think it should be great for us.”
Trump's comments come against the backdrop of market vibrations over his messages back on tariffs and signs of slowdown in the US economy.
Last week, Trump struck 25 percent import tariffs from Mexico and Canada and doubled the percentage of duties on Chinese goods up to 20 percent.
But only 48 hours later, he announced that he would postpone some of the rates for Mexican and Canadian goods until April 2.
The BenchMark S&P500 index dropped more than 3 percent from last Monday to Friday, accumulating its worst weekly performance from September.
On Thursday, the tracking of the domestic product (GDP) of the Federal Reserve in Atlanta lowered its assessment for the January-March period to 2.4 percent shrinkage, which is lower than 2.3 percent extension last month.
On Friday, Goldman Sachs raised the chances of recession for the next 12 months from 15 to 20 percent.
In a more positive sign of economic perspectives, the US Bureau of Labor Statistics on Friday reported the addition of 151,000 jobs in January – just below the forecasts of economists, but approximately in accordance with the average of 2024.
In an interview with NBC, the US Secretary of Trade on Sunday, Howard Luni, rejected talks about a possible recession.
“Donald Trump is the winner. He will win for the American people. That's right, “Luni said during an interview with Meet The Press.
“There will be no recession in America.”
“I would never bet on a recession,” Luni added. “No chance.”
