President Donald Trump speaks at a joint session of Congress in Washington, D.C., on Tuesday, March 4, 2025. (AP Photo/Ben Curtis)
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Ben Curtis/AP/AP
During a recent interview, President Trump defended his administration’s economic strategies, particularly after he implemented tariffs on Mexico and Canada last week and subsequently rolled some of them back. Critics argue this creates uncertainty for businesses and the overall economy.
In an interview with Fox News Channel’s Sunday Morning Futures, Trump downplayed worries about his fluctuating tariff decisions, stating they “could go up.”
When asked by Maria Bartiromo from Fox News if he anticipates a recession within his first year, Trump refrained from making a prediction.
“I dislike forecasting events like that,” Trump commented. “There is a transition period since what we’re undertaking is significant. We’re working to bring wealth back to America, which is a major endeavor and can take time.”
While some indicators suggest the economy might be leaning toward recession, Commerce Secretary Howard Lutnick assured NBC’s Meet the Press that there is “zero chance” of it happening.
Last week, the Trump administration declared a 25% tariff on cars and auto parts from Mexico and Canada. However, a one-month delay was announced shortly after car manufacturers Ford, Stellantis, and General Motors expressed their concerns to the president. In his conversation with Bartiromo, Trump clarified this decision.
“This is a temporary measure. I believed it was in the best interest of American automakers,” Trump explained. “It seemed fair to grant them a temporary relief during this period.”
Despite opposition from automakers, Sean Fain, the head of the United Auto Workers, described the tariffs as a necessary “attempt to stop the bleeding” in the American economy.
He stated that while tariffs are “not a complete solution,” they play a vital role in addressing the issue.
Meanwhile, the stock market faced its most challenging week in six months, with the S&P 500 declining by 3.1% and the Nasdaq dropping by 3.45%. Bartiromo questioned Trump about whether the ongoing uncertainty over tariffs, which many economists believe is contributing to the market decline, would persist or if businesses could expect more clarity.
“I believe so,” Trump responded. “However, it’s important to note that the tariffs might increase over time.”
Trump reaffirmed that he still intends to implement “reciprocal” tariffs against all trade partners that impose tariffs on U.S. products next month.
“Starting April 2nd, the system will be entirely reciprocal,” he mentioned. “Whatever they charge us, we will charge them back.”
