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US President Donald Trump has refused to say whether the US economy is facing a recession or price rises in the wake of his administration’s changes to tariff threats against some of its closest trading partners.
Asked if he was expecting a recession this year, Trump said there was a period of transition taking place.
According to the BBC, Commerce Secretary Howard Lutnick insisted there would be no contraction in the world’s largest economy, while acknowledging that the price of some goods may rise.
It comes after a volatile week for US financial markets as investors grappled with uncertainty from his administration’s U-turn on some key parts of its aggressive trade policies.
New tit-for-tat tariffs from China, which target some US farm products, came into effect on Monday.
English (US) ·