Tariffs ‘could go up,’ Trump says while allaying recession fears
Global News
Donald Trump said in an interview with Fox News he paused some U.S. tariffs because he 'wanted to help Mexico and Canada to a certain extent,' but added tariffs could also go up.
Worldwide tariffs are unlikely to go down, but “could go up,” U.S. President Donald Trump says.
In an interview with Fox News host Maria Bartiromo on Sunday, Trump tamped down fears of a looming recession after a tumultuous week for the U.S. stock market as investors grappled with further uncertainty from Trump’s tariffs.
Trump exempted certain products traded under North American free trade rules on Thursday. In the hours that followed, the S&P 500 had its worst trading day of the year, while the Nasdaq plunged 2.6 per cent and the Dow Jones Industrial Average fell by 1.0 per cent.
Addressing the stock market tumble, Trump said that the U.S. is “going to have a disruption, but we’re okay with that.”
When asked by Bartiromo why he paused some tariffs, Trump said “I wanted to help Mexico and Canada to a certain extent,” and he had also wanted to “help American car manufacturers.”
“We’re a big, big country and they do a lot of their business with us, whereas in our case it’s much less significant. We do very little with Canada by comparison,” Trump said.
“I thought it would be a fair thing to do and so I gave them a little bit of a break for a short period of time.”
Pressed by Bartiromo about concern that his policies—particularly his lack of clarity on tariffs—may lead to a recession, Trump dismissed it by saying “the tariffs could go up as time goes by.”
EU leaders are set to address the issue of nuclear deterrence, among other issues, during a special summit in Brussels on Thursday.
In light of his recent actions and claims, Democrats took it upon themselves to stand up to the president and his party.
CIA Director John Ratcliffe called the suspension a “pause” and said it came after the meeting between Trump and Zelenskyy in the Oval Office last week.
'We will make you rich. And together we will take Greenland to heights like you have never thought possible before,' Trump said in his televised address to Congress.
The Chinese embassy in the U.S. said the 'fentanyl issue,' which Trump said is the reason for the tariffs, was a 'flimsy excuse to raise U.S. tariffs on Chinese imports.'
It was unclear if Israel or the United States would accept the Egyptian plan, whose endorsement by Arab leaders amounted to a widespread rejection of Trump’s proposal.
As the United States pauses military aid to Ukraine amid a deepening rift between the two nations, Prime Minister Justin Trudeau reaffirmed Canada’s unwavering support for Kyiv.
Footage shows the pool overflowing and passengers in the canteen clutching tables to avoid sliding.
European and Asian shares were mostly lower Tuesday after a new round of tariffs imposed by U.S. President Donald Trump took effect.
The crises were a new setback in what has become a more than two-week battle by the 88-year-old pope to overcome a complex respiratory infection.
The crises were a new setback in what has become a more than two-week battle by the 88-year-old pope to overcome a complex respiratory infection.
European countries are looking at options for a peace proposal including Ukraine after last week's Oval Office rupture between Trump and Zelenskyy.
Trudeau was in London for a weekend security summit, making Canada the only non-European nation represented in talks on how to ensure a possible Ukraine ceasefire holds.