WASHINGTON — President Donald Trump left the door open for the possibility that the U.S. could see a recession this year, even as he doubles down on his promise that his far-reaching tariff agenda will ultimately benefit Americans. 

What You Need To Know

  • President Donald Trump left the door open for the possibility that the U.S. could see a recession this year, even as he doubles down on his promise that his far-reaching tariff agenda will ultimately benefit Americans
  • "There is a period of transition because what we’re doing is very big, we’re bringing wealth back to America," Trump said in an interview on Fox News that aired Sunday
  • The outlook for the U.S. economy from the commander in chief comes after his new tariffs on China, Mexico and Canada last week — the nature of which changed multiple times throughout the span of a few days — rattled markets, with U.S. stocks opening lower Monday
  • Appearing on NBC News’ “Meet the Press” over the weekend, Trump’s commerce secretary, Howard Lutnick, on the other hand, offered a far less hesitant –— and significantly rosier — answer on the potential for a recession in the U.S, saying, "Absolutely not"

“I hate to predict things like that,” Trump said in an interview on Fox News that aired Sunday but was recorded Thursday. "There is a period of transition because what we’re doing is very big. We’re bringing wealth back to America.” 

Trump went on to tell Fox News’ Maria Bartiromo that his plan for such a feat “takes a little time.” 

Asked later Sunday by reporters about his comments and specifically his hesitation to rule out a recession later, the president said “of course you hesitate — who knows?” He then insisted his tariff plan would eventually bring revenue, jobs and factories to the U.S. 

“All I know is this: We're going to take in hundreds of billions of dollars in tariffs, and we're going to become so rich you're not going to know where to spend all that money,” Trump told reporters. “I'm telling you, you just watch.”

The outlook for the U.S. economy from the commander in chief comes after his new tariffs on China, Mexico and Canada last week — the nature of which changed multiple times throughout the span of a few days — rattled markets, with U.S. stocks opening lower Monday. Economists are warning the move could raise prices in the U.S., and there are signs of rising concerns about the state of the economy from the American public.  

During his joint address to Congress last week, Trump warned Americans that there will be “a little disturbance,” as he pushes ahead with his levies. 

“But we’re OK with that,” he added. “It won’t be much.”

The most broad of his tariff pledges, reciprocal ones on major U.S. trading partners, are set to be imposed April 2. New tariffs on steel and aluminum will take effect this week while the administration has also started investigations into whether to add imports of copper, timber and lumber to the list. 

Appearing on NBC News’ “Meet the Press” over the weekend, Trump’s commerce secretary, Howard Lutnick, on the other hand, offered a far less hesitant — and significantly rosier — answer on the potential for a recession in the U.S.

“Absolutely not,” Lutnick said. “Anybody who bets against Donald Trump — it's like the same people who thought Donald Trump wasn't a winner a year ago.

“There's going to be no recession in America,” he added.