Commerce Secretary Howard Lutnick said Sunday that Americans should “absolutely not” brace for a recession as President Donald Trump said the United States is in a “period of transition” as the administration plans to implement far-reaching reciprocal tariffs on goods from foreign countries.
“There’s going to be no recession in America. … Global tariffs are going to come down because President Trump has said, ‘You want to charge us 100%? We’re going to charge you 100%,’” Lutnick told NBC News’ “Meet the Press.”
Lutnick argued that Trump plans to “unleash America out to the world” and “grow our economy in a way we’ve never grown before.”
“So, if Donald Trump is bringing growth to America, I would never bet on recession, no chance,” the commerce secretary added.
In a separate interview on Fox News’ “Sunday Morning Futures,” host Maria Bartiromo asked Trump whether he expects a recession this year.
“I hate to predict things like that,” he said.
“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. And there are always periods of it takes a little time, it takes a little time,” he added. More here