U.S. President Donald Trump has stated that the United States may soon enter a recession, but he believes the country’s economy will thrive in the long term.
When asked whether the U.S. could fall into a recession, he responded: “Anything can happen, but I believe we will have the greatest economy in the history of our country.”
According to the president, he is not too concerned about the outlook.
“This is a transitional period. I think we’re going to come through it fantastically,” Trump said.
Previously, former U.S. Treasury Secretary Janet Yellen said in an interview with the Financial Times that the U.S. is facing a recession due to Trump’s tariffs. She emphasized that the U.S. is heavily dependent on critical minerals from China, and tariffs on Chinese imports could significantly weaken entire sectors of the American economy.
On April 2, President Trump announced that the U.S. would impose tariffs on 185 countries and territories. Tariffs on China reached 145%, while Beijing increased its tariffs on American goods to 125% starting April 12.
