President Donald Trump is downplaying business concerns over his planned tariffs, despite fears of economic uncertainty and rising prices, according to an Associated Press report. After briefly pausing 25% tariffs on imports from Mexico and Canada, Trump confirmed that broader “reciprocal” tariffs will take effect April 2, matching the rates imposed by U.S. trading partners. “What they charge us, we charge them,” he said in a Fox News interview.
When asked about the Atlanta Fed’s warning of a potential economic contraction, Trump acknowledged possible short-term effects but insisted his trade policies would ultimately benefit the country. He declined to predict a recession in 2025, saying, “There is a period of transition. … It takes a little time.” Meanwhile, market volatility continued, with Wall Street experiencing sharp swings over trade concerns.
Trump dismissed criticism from businesses seeking stability, blaming “globalists” for taking advantage of the U.S. and arguing that tariffs would help restore American wealth. He suggested rates could increase further, saying, “I don’t know if it’s predictability,” signaling more uncertainty for investors and businesses.
Commerce Secretary Howard Lutnick confirmed that 25% tariffs on steel and aluminum imports will take effect Wednesday, though tariffs on Canadian dairy and lumber are delayed until April. He acknowledged potential market distortions but argued that “American goods are going to get cheaper, and you’re going to be helping Americans by buying American.”
