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US President Donald Trump did not dismiss the possibility of US recession amidst trade charges. He said that 'I don't like to predict'. Trump's recent stock market on his fee policy …Read more
Tariff war can cause recession in America. (Image: AP)
Highlights
- Donald Trump did not rule out the possibility of recession in the US economy this year.
- There is a possibility that tariff war may increase inflation in America further.
- Trump predicted that his economic goals would take time to meet.
Washington. US President Donald Trump refused to dismiss the possibility that this year the US economy could move towards recession and inflation could increase. Because their disorganized trade fee policy is creating uncertainty and upheaval in the market. US President Trump predicted that his economic goals would take time to meet and require an infection period. But when he was asked in Fox News Show Sunday Morning Futures, 'Are you expecting a recession this year?' So he evasive.
Trump said that 'I do not like to predict such things. This is a transition period, because what we are doing is very big. We are bringing back property in America. This is a big thing. And there are always times, it takes some time. It takes some time, but I think it should be very good for us. When he was asked if he feels that the duty on his US imports will promote inflation, he said that 'you can get to see it'.
Donald Trump underained by reducing the recent volatility of the stock market after eviction on its fee policy on exports from Canada, Mexico and China. Significantly, last week the Atlanta Federal Reserve suggested that the American economy is moving towards recession in the first quarter. Due to which there is a fear that if weakness persists, then there may be a slowdown in the world's largest economy and the stock market may increase nervousness.
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Meanwhile, US Commerce Minister Howard Lutnik dismissed the concern that Trump's probability of global fee would cause recession in the US. He said that 'not at all, there will be no recession in America'. Lutnik said that 'whoever bets against Donald Trump, it is like those who thought that Donald Trump will not win a year ago… You will see the biggest growth rate from America in the next two years… I will never bet on the recession, no chance.'
