Lutnick indicated the tariffs that go into effect on April 2 will continue until Trump is “comfortable” with how both countries are handling the flow of fentanyl, comments tha

President Donald Trump did not deny there could be a recession this year under his leadership, telling Fox News there would be a “period of transition” as his economic policies take effect, as the president’s rapidly shifting tariffs on goods from Mexico and Canada have rattled the stock market and led to warnings of an economic downturn.

Explore how tariffs on Canada, Mexico, and China impact U.S. consumers, businesses, and markets, risking economic growth and sparking recession fears.

Wall Street stocks tumbled Tuesday after the United States proceeded with new tariffs on Canada, Mexico and China, exacerbating worries that higher inflation will prompt a recession.

Commerce Secretary Howard Lutnick emphatically rejected the risks of a recession even as markets slide — and said America’s biggest trading partners could easily avoid Trumps

President Trump said that Americans would be better off in the long run from his tariffs, which he said would prevent the country from being “ripped off.”

The recent tariffs imposed on goods from Canada, Mexico, and China are raising concerns about their impact on US consumers and the broader economy. S&P Global Ratings global chief economist Paul Gruenwald joins Wealth host Madison Mills to discuss how the tariffs will likely be passed onto US consumers.

Risks to the Mexican, Canadian and American economies are piling up amid a chaotic implementation of U.S. tariffs that has created deep uncertainties for businesses and decision-makers, according to Reuters polls of economists taken this week.

Jacob Rees-Mogg, the Conservative MP, labelled Mr Carney the “high priest of project fear”. He survived the outcry and left the bank in 2020, laying the groundwork to assume leadership of Canada’s beleaguered Liberals, despite never having sat as an MP in the House of Commons.

Economic forecasts have been weakening. While some see slower growth, several commentators see the chance of an outright recession rising this year.