After imposing and quickly suspending 25% tariffs from Mexico and Canada, the market has surprised concerns about the trade war, he said his plan for a broader “reciprocity” tariff will take effect on April 2, matching them with other countries’ assessments.
“On April 2, it all became reciprocal,” he said in a recording interview with Fox News Channel’s ‘Sunday Morning Futures’. “They charge us, we charge them.”
When asked about warnings of the Atlanta Fed’s economic contraction in the first quarter of this year, Trump seemed to acknowledge that his plans could impact our growth. He claimed that, despite this, it ended up being “good for us.”
When questioned whether he was expecting a recession in 2025, Trump replied: “I hate to predict something like this. It’s a transition period because we’re doing a lot. We bring wealth back to the United States. It’s a big deal.” Then, he added: “It takes a little time.”
It was a tough week on Wall Street, with wild volatility occupied by concerns about the economy and uncertainty about Trump’s tariffs. Trump puts the concerns of businesses seeking stability aside when making investment decisions. He said: “For years, globalists, great globalists have been depriving the United States of America.“Tariffs may increase”
“You know, over time, tariffs may increase, they may rise, you know, I don’t know if that’s predictable,” the Republican president said.
Trump lifted tariffs on U.S. automakers last week, and then imported them almost entirely to the United States, but included them in Chinese goods.
Price distortion
More tariffs may be seen this week, with U.S. Commerce Secretary Howard Lutnick told NBC’s Meet the Media that a 25% tariff on steel and aluminum imports will take effect on Wednesday. Lutnik said Trump’s threat to Canadian dairy and wood tariffs will wait until April.
“Will there be a twist? Of course,” Lutnik said. “Foreign goods may become more expensive. But American goods will become cheaper, and you will help Americans by buying Americans.” AP
