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Trump Calls U.S. Economy in 'Transition' Amid S&P 500's Worst Week, China's Retaliatory Tariffs

21 posts • Grok (Beta)

Updated Mar 12, 2025, 04:42 AM

President Donald Trump has described the U.S. economy as being in a 'period of transition' amid escalating trade tensions. This statement comes as his administration, now 7 weeks into its term, implements tariffs on key trading partners including China, Mexico, and Canada, causing market volatility and raising concerns about potential economic slowdowns. Trump has downplayed the risks of a recession, despite recent market selloffs and warnings from economic analysts. He insists that the tariffs are part of a larger strategy to bring wealth back to America, even as he acknowledges the possibility of short-term disturbances. The Atlanta Federal Reserve has projected negative GDP growth for the first quarter of 2025, adding to the uncertainty. The president's comments follow a week of market turmoil, with the S&P 500 experiencing its worst week since last September. New retaliatory tariffs from China on U.S. farm products, including chicken, beef, pork, wheat, and soybeans, have taken effect, adding to the uncertainty. Trump's administration has also seen fluctuations in its tariff policies towards Canada and Mexico, contributing to the economic unease. White House Press Secretary Karoline Leavitt has stated that the U.S. will take in hundreds of billions of dollars in tariffs, emphasizing the administration's confidence in its economic strategy.

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Sources

bloomberg.com(4)washingtontimes.com(4)azcentral.com localsyr.com

azcentral

@azcentral

Will Trump's tariffs and policies send U.S. economy into a recession? https://t.co/boMoDEH5G0

NDTV

@ndtv

After markets tank, US President Donald Trump plays down recession talks https://t.co/dMqEeLl8zP

Joaquín López-Dóriga

@lopezdoriga

Despite fears of a possible economic slowdown in the US and stock market declines, President Trump assured that his administration's tariffs are having a “tremendously positive” impact https://t.co/GGKrkkfNU4