Trump downplays business concerns about uncertainty from his tariffs and prospect of higher prices

ZEKE MILLER

Updated Sun, Mar 9, 2025, 9:27 AM 2 min read

WEST PALM BEACH, Fla. (AP) — President Donald Trump is dismissing concern concerns implicit the uncertainty caused by his planned tariffs connected a scope of American trading partners and the imaginable of higher prices, and isn't ruling retired the anticipation of a recession this year.

After imposing and past rapidly pausing 25% tariffs connected imports from Mexico and Canada that sent markets tumbling implicit concerns of a commercialized war, Trump said his plans for broader “reciprocal” tariffs volition spell into effect April 2, raising them to lucifer what different countries assess.

“April 2nd, it becomes each reciprocal,” helium said successful a taped interrogation with Fox News Channel's “Sunday Morning Futures.” “What they complaint us, we complaint them.”

Asked astir the Atlanta Fed's informing of an economical contraction successful the archetypal 4th of the year, Trump seemingly acknowledged that his plans could impact U.S. growth. Still, helium claimed, it would yet beryllium "great for us.”

When questioned whether helium was expecting a recession successful 2025, Trump responded: “I hatred to foretell things similar that. There is simply a play of modulation due to the fact that what we’re doing is precise big. We're bringing wealthiness backmost to America. That's a large thing.” He past added, “It takes a small time. It takes a small time."

On Wall Street, it was a pugnacious week with chaotic swings dominated by worries astir the system and uncertainty astir what Trump's tariffs.

Trump brushed speech concerns from businesses seeking stableness arsenic they marque concern decisions. He said that “for years the globalists, the large globalists person been ripping disconnected the United States" and that now, "all we’re doing is getting immoderate of it back, and we’re going to dainty our state fairly."

“You know, the tariffs could spell up arsenic clip goes by, and they whitethorn spell up and, you know, I don’t cognize if it’s predictability,” the Republican president said.

Trump past week lifted the Mexico and Canada tariffs connected American car manufacturers, and past virtually each imports to the U.S., but kept them connected goods from China.

More tariffs are coming this week, with Commerce Secretary Howard Lutnick telling NBC's “Meet the Press” that 25% tariffs connected alloy and aluminum imports volition instrumentality effect Wednesday. Lutnick said Trump's threatened tariffs connected Canadian dairy and lumber though would hold until April.

“Will determination beryllium distortions? Of course,” Lutnick said. “Foreign goods whitethorn get a small much expensive. But American goods are going to get cheaper, and you’re going to beryllium helping Americans by buying American.”