Trump Administration Live Updates: Trump Declines to Rule Out Recession as Economic Policies Take Hold

President Trump declined on Sunday to rule out the possibility that his economic policies, including aggressive tariffs against America’s trade partners, would cause a recession.

“I hate to predict things like that,” Mr. Trump responded. “There is a period of transition, because what we’re doing is very big. We’re bringing wealth back to America. That’s a big thing, and there are always periods of, it takes a little time. It takes a little time, but I think it should be great for us.”

Mr. Trump’s imposition of sweeping tariffs on Canada, Mexico and China last week rocked stock markets and invited pushback from industries, including the largest automakers, who told the president that the duties would decimate their business. Canada immediately retaliated with tariffs on $20.5 billion worth of American exports and threatened additional measures. China has also placed tariffs on U.S. goods and plans to impose another round on Monday.