Cnn
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President Donald Trump said tariffs for some goods from Canada and Mexico planned for April 2 “can grow”, and would not predict whether the United States would have a recession in 2025.
In an interview that broadcast on the Fox News’ “Sunday morning with Maria Bartiromo,” Trump said reciprocal tariffs would take effect on April 2 and a month’s return given to Mexico and Canada was a “little break”.
In February, Trump announced 25% fees in neighboring countries of the United States. These were delayed for a month and imposed on Tuesday, until Trump decided on Wednesday to stop fees for automobiles for another month. He again changed the course on Thursday, stopping tariffs on Mexican and Canadian goods covered by the USMCA Free Trade Treaty until April.
“It’s a transition in April and after that, I’m not doing that. I said (the automobiles),” Look, I will do this once, “” Trump said.
But Trump has continued to make changes to fee plans. On Friday, he threatened new tariffs for Canadian lumber and dairy products. These tariffs may take effect on Monday.
After Trump announced the last one-month pause for most fees, Mexico President Claudia Sheinbaum decided to hold revenge tariffs. Canadian Prime Minister Justin Trudeau has said Canada’s vengeful measures will remain in the country.
But Trudeau said at a press conference on Thursday that these policies endanger a trade war between Canada and the United States for the foreseeable future.
Meanwhile, the Secretary of Trade Howard Lutnick confirmed Sunday at the NBC’s “press” that Trump promised 25% fees for steel and aluminum imports will take effect on Wednesday and tariffs on Canadian dairy and raw materials will “begin on April 2”.
Lutnick indicated that the fees that take effect on April 2 will continue until Trump is “comfortable” with the way both countries are dealing with Fentanyl’s course, comments that seemed to echo on Sunday by National Economic Council Director Kevin Hassett in ABC News “this week”. Hassett said Trump’s backward tariff movements were part of “a drug war, not a commercial war” aimed at curbing Fentanil’s flow in the United States.
“What happened was that we started a war on drugs, not a commercial war, and was part of the negotiations to take Canada and Mexico to stop transporting Fentanil across our borders, and as we have seen them make progress in the warfare, then we have relaxed some of the fees we put on because they are making progress,” Hassett said.
Hassett claimed that Canada is a “main source” of Fentanil’s imports, despite Canada responsible for only 0.2% of illegal drug imports in the United States.
Trade tensions and signs of slowdown increases have led to concerns that a recession could approach. When asked by Bartiromo if he was waiting for a recession in 2025, Trump said: “I hate to predict such things. There is a transition period because what we are doing is too big.”
Trump added that the transition “requires some time” and “will be great, after all, for the farmer”.
The last survey of the Consumer Conference Board showed that the part of respondents waiting for a recession in the next year was thrown in February at a nine -month high.
“The types of changes that are taking place under Trump are probably unparalleled, and are making people very nervous,” CNN Mark Zandi Mark Zandi told Moody. “If faith continues to fall for another three months, and consumers actually pack it, then the long game.”