In an interview with Maria Bartiromo about Fox News, including whether he is concerned about the looming recession of the US economy, he faced many questions about the economic ripple effects of his tariff policy.
“I hate predicting such things,” Trump told Baltiromo on “Sunday Morning Futures” when asked if he was expecting a recession this year. “What we do is so big, there is a period of transition. We bring wealth back to America. That's a big thing. And there's always a period – it takes a little time. It takes a little time. But I think it should be great for us. I mean, I think it should be great.”
Baltiromo spent most of the interviews looming Trump on his use of tariffs, how quickly some of his decisions changed, and how it sparked concerns from some business leaders.
“The CEO wants to see predictability. They say, look, I have to talk to shareholders,” Baltiromo said. “Can you tell me if I'd like to clarify the business community?”
“Well, I think so, but you know, tariffs can rise over time and they may go up, and you know, I don't know if that's predictable or not,” Trump replied.
Trump has admitted that tariffs on imports may cause “disturbance” in the economy. Bartiromo asked if he had mentioned stock market dip in recent days about Trump's tariffs targeting Canada and Mexico.
“All I have to do is build a strong country,” Trump said. “You can't really see the stock market. If you look at China, you have a 100-year perspective. We go in a quarter. And you can't go with it. You have to do the right thing.”
After Trump opposed the inflation that denounced the Biden administration, Baltiromo said one CEO told her that prices had to be raised due to tariffs. Trump shrugged the comments and pointed to lowering interest rates as a boon to the economy.
Baltiromo asked if businesses would become clear after April 2, when Trump committed to impose mutual tariffs on other countries that tax American products. Trump suggested that these tariffs could increase over time, but they would not decrease.
“It's mostly a soundbite. They always say it. 'We want to be clear.' Come on, our country has been stripped for decades,” Trump said.
Trump's widespread use of tariffs was sometimes unpredictable early in his second term. He announced 25% tariffs in Mexico and Canada in early February, delaying them for a month. After being imposed last week, Trump announced exemptions for eligible automotive products and merchandise under the 2020 trade agreement between the three North American countries.
Trump has also committed to imposing additional tariffs on certain products, including automobiles, wood, steel, aluminum, medicines and semiconductors.
