New York
In a recent statement, the U.S. leader acknowledged the possibility of a recession occurring in the near future, while simultaneously expressing strong optimism about the long-term prospects of the American economy.
When questioned about the potential for an economic downturn, he responded, “Anything can happen, but I think we’re going to have the greatest economy in the history of our country.”
The U.S. leader stated that he is not particularly concerned about the possibility of a recession, describing the current economic climate as a “transition period.” He asserted, “I think we’re going to do fantastically.”
These remarks follow statements made by Janet Yellen, a former U.S. Treasury Secretary, who suggested in an interview with the Financial Times that the U.S. could face a recession as a consequence of the administration’s tariffs. Yellen highlighted the significant reliance of the U.S. on critical minerals sourced from China, arguing that tariffs on Chinese imports could severely impact various sectors of the U.S. economy.
On April 2nd, the U.S. leader announced the imposition of tariffs on goods from 185 countries and territories. Notably, tariffs on Chinese goods were raised to 145%, prompting Beijing to respond by increasing its own tariffs on U.S. goods to 125% starting on April 12th.
