United States President Donald Trump minimized on Sunday, 4, concerns about a possible recession in the country amid the deceleration of the economy and increased tariffs on imported products. In an interview with NBC News’s “Meet The Press” program, Trump stated that the country is going through a “transition period” and that the measures adopted by its management aim to strengthen the economy in the long run, even with any negative effects in the short term.
“It’s okay. I said this is a transitional period. I think we will do very well,” he said, when asked if he would accept a recession as a cost to achieve his economic goals. The statement occurs days after the first trimester’s GDP disclosure, which pointed to 0.3% contraction in the annualized rate, the first drop since the beginning of 2022.
Trump also reiterated his defense of high trade tariffs, especially against China. According to him, the imposition of rates of up to 145% is a way to protect the American industry and correct what it calls historical commercial imbalance. “We lost $ 5 billion to $ 6 billion a day with Biden. Now, it has dropped dramatically. We put a 145%tariff. No one has ever heard of it. And that’s fine,” he said.
Inflation
Commenting on the impact of tariffs on consumer prices, Trump suggested that Americans can reduce the consumption of superfluous products. “I don’t think an 11 -year -old girl needs to have 30 dolls. She can have three or four. We don’t have to spend money on trash from China,” he said. Speech was interpreted as an indication that its policy can cause price increase and reduce the offer of some imported items, such as toys and school articles.
During the interview, Trump denied that his economic agenda is causing structural damage and classified impacts as temporary adjustments. “The tariffs will make us rich. We will be a very rich country,” he said.
Asked about the negative reaction of the financial market after the announcement of the new rates, the president stated that he is responsible for the consequences, but argued that he has been in office for only three months.
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“Lately, I get responsible for everything. But I have only been here for just over 100 days. Still, we have already been able to reduce costs. We are talking about a bleeding economy. Today we have a much more balanced trade and partners who want to make agreements with us. But it has to be fair,” he said.
“Good parts of the economy are mine; bad, from Biden”
Trump also criticized former President Joe Biden and attributed to him the current economic problems. “The good parts of the economy are mine. The bad are from Biden. He did a terrible job of everything. From the economy to the use of Autopen, which he didn’t even know he was signing,” he said, in reference to the recent episode in which a pardon granted to a Democratic ally was attributed to the use of the president’s automated signature mechanism.
Asked about his main campaign promise, ending inflation and turbocharging the American economy, Trump described the recent crisis as part of a period of “transition.” He argues that tariffs, ultimately, will reduce the US commercial deficit, generate revenue for the government and improve the home economy.
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“We don’t have to waste money in a commercial deficit with China for things we don’t need, for trash we don’t need,” Trump said. He also stated that the US would be “good” in the case of a short -term recession on the way to what it predicts, in the long run, it will be a busy economy when its policies come into force.
“Look, yes. It’s okay,” he said. “I said, this is a transitional period. I think we will do very well,” said the Republican.
The interview also addressed the tension between the promise of fighting inflation and the practical effect of tariffs on the cost of living. Recent data show that, despite a slight slowdown in annual inflation, the prices of imported items such as tires, household items and baby strollers are up. Trump relativized these increases and said the focus should be the reduction in energy price, such as gasoline. “Gasoline is thousands of times more important than a baby cart,” he said.
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Risk of shortage
Regarding the possibility of shortages, Trump denied that Americans should expect empty shelves, but insisted on the idea that consumption should be rationalized. “I’m not saying it’s going to be missing. I’m just saying that people don’t have to have 250 pencils. They may have five.”
The tariff policy adopted by Trump is one of the pillars of his economic strategy, along with the containment of irregular immigration and the cutting of public spending. In recent weeks, he has pressured Congress to approve a budget reconciliation package that expands tax cuts and seeks to limit social programs. The proposal must face resistance from moderate parliamentarians, who fear the impact on the deficit and on low -income voters.
The interview with “Meet The Press” marks the end of the first 100 days of the new Trump government. Amid the drop in approval rates and GDP contraction, the president has sought to reinforce his support base with messages aimed at the middle class and the industrial electorate. The statements on Sunday, 4, reinforce the nationalist and protectionist tone that guided his campaign and follow the central axis of his economic agenda.
