{"id":122562,"date":"2025-03-09T17:48:21","date_gmt":"2025-03-09T17:48:21","guid":{"rendered":"https:\/\/peraltafinancing.com\/business\/finance\/trump-does-not-rule-out-recession-as-he-rejects-business-fears-over-tariffs\/"},"modified":"2025-03-09T17:48:21","modified_gmt":"2025-03-09T17:48:21","slug":"trump-does-not-rule-out-recession-as-he-rejects-business-fears-over-tariffs","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=122562","title":{"rendered":"Trump does not rule out recession as he rejects business fears over tariffs"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p>Unlock the White House Watch newsletter for free<\/p>\n<p class=\"article__content-sign-up-topic-description\">Your guide to what the 2024 US election means for Washington and the world<\/p>\n<p><iframe class=\"article__content-sign-up-iframe close\" scrolling=\"no\" id=\"signUpIframe\" data-prev-url=\"\/register\/in-article-sign-up?ft-content-uuid=d7d2f3f4-d681-4a3a-974c-ff2885e98663&amp;newsletter-id=65b8fec772badb00166eafc6\"><\/iframe><\/div>\n<div id=\"article-body\">\n<p>Donald Trump has declined to rule out either a recession or higher inflation while dismissing the concerns of business over a lack of clarity on tariffs, after a tumultuous week in which he watered down elements of his aggressive trade agenda.\u00a0<\/p>\n<p>The president insisted industry had \u201cplenty of clarity\u201d and lashed out at \u201csoundbite[s]\u201d from companies expressing confusion over his plans.\u00a0<\/p>\n<p>\u201cThey always say that \u2014 that\u2019s like almost a soundbite \u2014 they always say that: \u2018we want clarity\u2019,\u201d Trump said in an interview aired on Fox News on Sunday.\u00a0<\/p>\n<p>\u201cIt sounds good to say, but for years, the globalists, the big globalists, have been ripping off the United States. They\u2019ve been taking money away from the United States, and all we\u2019re doing is getting some of it back.\u201d<\/p>\n<p>The president declined to rule out a recession hitting the US economy this year after the Atlanta Fed warned of an economic contraction in the first quarter of the year.\u00a0<\/p>\n<p>\u201cI hate to predict things like that. There is a period of transition, because what we\u2019re doing is very big. We\u2019re bringing wealth back to America. That\u2019s a big thing, and there are always periods, it takes a little time.\u201d<\/p>\n<p>Asked whether tariffs could fuel inflation again, Trump said: \u201cYou may get it. In the meantime, guess what? Interest rates are down.\u201d<\/p>\n<p>The comments come after a week of about-turns and an equity market sell-off as markets scrambled for clarity over Trump\u2019s brewing trade war and companies warned of rising prices. <\/p>\n<p>The president imposed 25 per cent tariffs across the board on imports from Canada and Mexico on Tuesday before backtracking later in the week.<\/p>\n<p>On Wednesday he granted carmakers a carve-out from the levies and on Thursday extended that to all goods that met the rules of the 2020 USMCA free-trade deal. Separate 25 per cent tariffs on steel and aluminium imports are set to take effect this week. <\/p>\n<p>The levies have already <a href=\"https:\/\/www.ft.com\/content\/c9cfe670-f08e-49ad-84dd-b8bdccc876ab\" data-trackable=\"link\">caused significant upheaval<\/a> in the market as companies stockpile materials, review operations and prepare to raise prices. Trump reiterated that the tariffs could rise in future. <\/p>\n<p>\u201cThe tariffs could go up as time goes by. They may go up, I don\u2019t know if it\u2019s predictability,\u201d he said. <\/p>\n<p>Trump said in the interview that he had \u201cwanted to help the American carmakers\u201d this week but insisted that no such leeway would be shown on reciprocal tariffs set to be imposed next month.\u00a0<\/p>\n<p>\u201cI gave them a little bit of a break for a short period of time\u2009.\u2009.\u2009. It\u2019s a transition into April, and after that I\u2019m not doing this\u2009.\u2009.\u2009.\u2009I told them, I said: Look, I\u2019m going to do it this one time but, after that, I\u2019m not doing it.\u201d<\/p>\n<p>Separately on Sunday, Howard Lutnick, Trump\u2019s commerce secretary, conceded some of the tariffs would cause inflationary pressures, echoing Trump\u2019s warnings of \u201c<a href=\"https:\/\/www.ft.com\/content\/c9d49895-3d3f-43d1-9d5a-f619657589e3\" data-trackable=\"link\">a little disturbance<\/a>\u201d when he addressed Congress on Tuesday.<\/p>\n<p>\u201cSo, will there be distortions? Of course, foreign goods may get a little more expensive, but American goods are going to get cheaper.,\u201d Lutnick told NBC\u2019s meet the press. <\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world Donald Trump has declined to rule out either a recession or higher inflation while dismissing the concerns of business over a lack of clarity on tariffs, after a tumultuous week in which he [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":122563,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[93],"tags":[907,20543,10978,11692,7318,16168,1175],"dealstore":[],"offerexpiration":[],"class_list":["post-122562","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-business","tag-fears","tag-recession","tag-rejects","tag-rule","tag-tariffs","tag-trump"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - 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