Trump Acknowledges Potential Recession as Tariffs and Economic Policies Raise Concerns

The president describes the economy as in a 'period of transition,' while experts and markets react to rising risks of a downturn.

President Donald Trump did not rule out the possibility of a U.S. recession in 2025, citing a 'period of transition' tied to his economic policies.
Major U.S. stock indexes fell sharply, with the Nasdaq entering correction territory, reflecting growing concerns about economic instability.
The administration's 25% tariffs on imports from Canada and Mexico, alongside federal job cuts, have heightened market uncertainty and recession fears.
Canada's new Prime Minister, Mark Carney, has pledged retaliatory tariffs on U.S. goods, escalating trade tensions between the two nations.
Commerce Secretary Howard Lutnick dismissed recession fears, emphasizing potential economic growth from tariff negotiations and increased investments in the U.S.