President Trump flip-flops on tariffs, economy

President Trump flip-flops on tariffs, economy as new import taxes take effect

President Donald Trump is defending his use of tariffs, claiming they will strengthen the economy long-term while downplaying talk they will lead to a recession.

President Trump flip-flops on tariffs, economy as new import taxes take effect

President Donald Trump is defending his use of tariffs, claiming they will strengthen the economy long-term while downplaying talk they will lead to a recession.

President Trump says that these import taxes will actually help strengthen the economy in the long term, and he's also downplaying any sort of talk that they'll lead to recession. We were allowing them to take our jobs and take our factories, and we don't do that anymore. President Trump defending new tariffs, launching today *** 25% tax on all steel and aluminum imports, continuing *** stock market sell off nearly 10%. From *** record high in the past month. Markets are going to go up and they're going to go down, but you know what, we have to rebuild our country. Convinced the tariffs will pay off, pushing jobs and production back to the US despite fears of *** recession. I don't see it at all. I think this country is going to boom, brushing off his earlier prediction, I can do it the easy way or the hard way. The hard way to do it is exactly what I'm doing, but the. going to be 20 times greater. signed Tuesday on his tariff policy threatening taxes as high as 50% on steel and aluminum from Canada. We have to bring confidence to not only American companies but Canadian companies as well, pulling back the threat only after Canada suspended plans to surcharge electricity sold to the US It's not about backing down. It's about sitting around the table and negotiating. *** fair deal. New inflation data out this morning came in higher than expected. Grocery prices remained flat in February. Meanwhile, rent prices continue to be the main driver behind higher costs that have remained stubbornly elevated ever since hitting *** 3.5 year low just last September. At the White House, I'm Amy Lowe.

President Trump flip-flops on tariffs, economy as new import taxes take effect

President Donald Trump is defending his use of tariffs, claiming they will strengthen the economy long-term while downplaying talk they will lead to a recession.

New 25% U.S. tariffs on steel and aluminum take effect Wednesday, likely adding costs to Americans and continuing a stock market sell-off that's seen a nearly 10% drop since a record high last month.But President Donald Trump is defending the tariffs, brushing off a prediction he made earlier this week not ruling out the possibility of a recession."I don't see it at all. I think this country is going to boom," Trump told reporters Tuesday. "Markets are going to go up, and they're going to go down. But you know what? We have to rebuild our country."The president has remained convinced that the tariffs will pay off long-term, pushing jobs and production back to the U.S.On Tuesday, he threatened taxes as high as 50% on steel and aluminum from Canada."I can do it the easy way or the hard way. The hard way to do it is exactly what I'm doing," he said. "The results are going to be 20-times greater."Trump pulled back the threat shortly after Canada suspended plans to surcharge electricity sold to the U.S."We have to bring confidence to not only American companies, but Canadian companies as well," Ontario Premier Doug Ford said. "It's not about backing down, it's about sitting around the table and negotiating a fair deal.The European Union announced it would impose its own retaliatory tariffs on U.S. steel, aluminum, home appliances, and agriculture, reportedly worth some $28 billion. The tariffs will take effect April 1, one day before Trump's dollar-for-dollar reciprocal tariff plan against countries around the world takes effect.Meanwhile, new inflation data out Wednesday shows prices came out higher than expected; 3.1% since last year. While grocery prices remained flat in February, rent prices continue to be a main driver behind higher costs. Inflation has remained stubbornly elevated since hitting a three-and-a-half-year low last September.

WASHINGTON —

New 25% U.S. tariffs on steel and aluminum take effect Wednesday, likely adding costs to Americans and continuing a stock market sell-off that's seen a nearly 10% drop since a record high last month.

But President Donald Trump is defending the tariffs, brushing off a prediction he made earlier this week not ruling out the possibility of a recession.

"I don't see it at all. I think this country is going to boom," Trump told reporters Tuesday. "Markets are going to go up, and they're going to go down. But you know what? We have to rebuild our country."

The president has remained convinced that the tariffs will pay off long-term, pushing jobs and production back to the U.S.

On Tuesday, as high as 50% on steel and aluminum from Canada.

"I can do it the easy way or the hard way. The hard way to do it is exactly what I'm doing," he said. "The results are going to be 20-times greater."

Trump pulled back the threat shortly after Canada suspended plans to surcharge electricity sold to the U.S.

"We have to bring confidence to not only American companies, but Canadian companies as well," Ontario Premier Doug Ford said. "It's not about backing down, it's about sitting around the table and negotiating a fair deal.

The European Union announced it would impose its own retaliatory tariffs on U.S. steel, aluminum, home appliances, and agriculture, reportedly worth some $28 billion. The tariffs will take effect April 1, one day before Trump's dollar-for-dollar reciprocal tariff plan against countries around the world takes effect.

Meanwhile, out Wednesday shows prices came out higher than expected; 3.1% since last year. While grocery prices remained flat in February, rent prices continue to be a main driver behind higher costs. Inflation has remained stubbornly elevated since hitting a three-and-a-half-year low last September.

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