President Donald Trump insisted that his tariff policy would be a great help to the U.S. economy in the long run.
According to excerpts from an interview released by NBC News on Feb. 2 (local time), President Trump responded to a question about whether the economy would be okay in the long term even if it entered a short-term recession by saying, "Everything is fine," and added, "This is a turning point. We are going to do tremendously well."
When asked if he was worried about the recession, Trump said, "No." He also stated that in response to a question about whether he thought a recession could occur, "Anything can happen, but I believe we will have the best economy in our country's history."
In particular, in response to concerns raised by the financial sector on Wall Street about a recession due to the tariff policy, President Trump asked, "Some people on Wall Street say we will have the best economy in history. Why don't those people talk?"
Currently, the U.S. financial markets are volatile due to President Trump’s unpredictable and unprecedented level of tariffs. Additionally, the U.S. economy has been revealed to have contracted in the first quarter due to the uncertainty around tariffs, increasing anxiety about a recession. However, President Trump maintains that tariffs are necessary and that a bit of pain must be endured.