In the middle of uncertainty in trade wars, trade trading howard Lutnick said NBC News’ Meet the press Host Kristen Welker on Sunday that Americans should absolutely not “lease for a recession, insisting that the President Donald Trumpa, with tariffs as a cornerstone, initiate growth.
Why is it important
In the last few weeks, Americans were in limb as a row of 25 percent of the tariff against Canada and Mexico were imposed, paused, re-derived and paused, which led to retalia tariffs. Trump has repeatedly advocated tariffs to amplify the production of American production and fight against Fentanil who come across the borders of the nation. China is filled with 10 percent by increasing tariffs in Chinese goods.
Tariffs are taxes on imported goods, usually pay for imported companies, which can then transmit costs to consumers through higher prices.
Threat, imposing and subsequent pause tariffs caused significant market instability. The model forecasting from the Global Financial Services The company JPMorgan Chase shows the probability of economic decline increased significantly.
Lutnick’s comments also come as Trump promised to lower the cost of food products, especially eggs, promises that have yet to materialize.
What to know
Sunday, Welker asked Lutnick: “Do Americans knock for a recession?”
The Commercial Secretary replied: “absolutely no,” by adding that the president “is the winner, he will win American people. It will be unwanted. There will be no recession in America.”
He continued to expect Trump Tariffs to reject other countries to lower their tariffs and encourage American economic growth.
“You’ll see in the next two years the biggest growth set coming from America,” he said.
Trump issued a one-month break from the tariffs on Canada and Mexico produces the contracting agreement in the US-in-Mexico-Canada (USMCA) in the Free Trade Agreement on Thursday.
Lutnick admitted Sunday that, because of the tariff, “foreign goods can get a little more expensive, but American goods will be cheaper and that you will help Americans buy Americans.”
Earlier this week, the model forecast from JPMorgan Chase, analyzed Bloomberg, showed that the probability of economic decline increased to 31 percent of 17 percent at the end of November. Model Goldman Sachs Group Inc. He increased the increase in the risk of recession, 23 percent in January with 14 percent.
The S & P 500 on Thursday had the worst day of trading in the year, fell 1.8 percent, while Nasdaq fell 2.6 percent, and the Dow Jones Industrial Prosec fell by 1 percent. Cumulative, Dow Jones fell something more than 1,600 pts from 10. February, while Nasdaq fell about 1,500 points, and S & P 500 dropped about 300 points.
The latest American recession was 2020. years at the beginning of Covid-19 pandemic.
AP Photo / Jose Luis Magana
What do people say
Representative Frank Pallone, New Jersey Democract, wrote last week at X, Earlier Twitter: “The trade wars are killing the economy. We should all learn in the class of history. But Trump is not now his ruthless tariff, driving them to the recession. Anyone? Anyone?”
David Wessel, older guy in economic studies and headquarters of the Hutchins Center in Fiscal and Monetary Policy in Brooking Institution, previously said Newsweek: “The American economy has a lot of momentum and I don’t see any signs that now entered the recession, but I wonder if we’re in the point of inflection.
“My main concern is this tariff for reversal rules that are dohes of dogs, policies and institutions, creating social services or anxiety that could lead companies, and maybe even investors say and see.”
Mohamed A. El-Erian, Columnist Bloomberg and former Executive Director of Pacific Investment Management (Pimco), wrote on Tuesday: “Although it is even relatively low, my probability has risen with 10 percent at the beginning of the year at 30 percent today. It is consequential and quite disturbing development for economy and elevated roles in global growth.”
President Donald Trump said during a recent interview with Foxo Business’ Maria Bartiromo: “I hate to predict such things. There is a period of transition, because what we do is very big. We return the wealth in America. It’s a big deal. I think it takes a little time.”
Former Democratic Presidential candidate Andrew Yang wrote last week at x: “Do I think Trump lead us to a recession through his tariffs, bedding and a messy leadership? Yes. Yes, I know.”
What happens next?
Canadian and Mexican goods that meet the user’s criteria is spared from Trump 25 percent of tariffs until 2. April.
2025-03-09 19:20:00
