President Donald Trump recently addressed concerns surrounding the US economy amidst escalating trade tensions, stating that the country is undergoing a “period of transition” as his administration continues to implement its “America First” policies.
While Trump refrained from predicting a recession, he emphasized the long-term benefits of his trade strategies, which are designed to bring manufacturing jobs and wealth back to the United States.
In a Fox News interview, Trump acknowledged the challenges ahead, noting that “what we’re doing is very big” and that it takes time for Americans to see the results of these sweeping economic changes. He further stressed that while there may be temporary economic disruptions, the future outlook is positive.
“I think it should be great for us,” Trump added.
The economic uncertainty comes as new tariffs have been imposed on key trading partners, including China, Mexico, and Canada, with the aim of reducing reliance on foreign goods and revitalizing American industries. Although these tariff hikes have led to market volatility, including a drop in the S&P 500 index, Trump has remained resolute in his belief that these measures will ultimately benefit the US economy.
Commerce Secretary Howard Lutnick, a staunch supporter of Trump’s economic vision, rejected concerns about a potential recession, asserting that the U.S. economy is not headed for contraction.
“There’s going to be no recession in America,” Lutnick confidently declared in an interview on NBC’s Meet the Press.
He further emphasized that the goal of Trump’s policies is to lower prices for American-made goods while raising tariffs on foreign imports.
Despite the challenges, Trump remains optimistic about the future of American manufacturing, pointing to investments from major companies like Taiwan Semiconductor Manufacturing Co., which recently announced plans for a $100 billion investment in Arizona. These investments, Trump suggests, are a testament to the success of his economic policies.
With input from BBC, the Washington Post and Al Jazeera.
