President Trump discusses the current economic climate, admitting the U.S. may be in a transition phase which includes the potential for recession. His recent trade policies, including increased tariffs on imports, have contributed to market instability, as reflected in the S&P 500's significant drop. Despite this, job growth data offers a more optimistic view. Trump emphasizes the long-term benefits of his economic agenda, claiming it will ultimately bring wealth back to America. Contrarily, economic experts raise recession probabilities due to market reactions to his policy changes.
Trump stated, "There is a period of transition, because what we're doing is very big. We're bringing wealth back to America. That's a big thing."
Market jitters intensified as Trump announced tariffs on imports from Mexico and Canada, only to postpone them shortly after, contributing to economic uncertainty.
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