By Alex Leary
WEST PALM BEACH, Fla.—President Trump is minimizing concerns over further economic turmoil as he moves forward with trade negotiations and steps up pressure on Congress to pass a tax-and-spending bill.
In the coming week, the White House aims to announce at least one deal with a country seeking to escape higher tariffs, according to a senior administration official. Trump in return is seeking an array of benefits, including agreements that trading partners purchase more U.S. goods and curb non-tariff barriers.
The president and his advisers are feeling somewhat more confident about the economy, this person said, amid some signs of resiliency, including a streak of stock-market gains and a better-than-anticipated jobs report on Friday.
In an interview that aired Sunday, Trump described the country as in a transition period and left open the possibility of an economic downtown. “Anything can happen,” Trump said on NBC’s “Meet the Press” when asked if a recession could happen. Still, he emphasized that he believes his policies will trigger a historic boom. He described the economy as “partially” his and no longer that of his predecessor, Joe Biden, saying “the good parts” are his.
Trump is seeking to reshape decades of free-market thinking in the GOP and use tariffs as a tool to bring back domestic manufacturing. His actions have gone further than many expected, and a series of starts, stops and pauses in enacting his agenda have fanned economic anxiety.
Many economists still expect a trade-induced slowdown later this year. The “big, beautiful” bill Trump and the GOP are banking on is no sure bet to deliver on its promises of boosting the economy. Legendary investor Warren Buffett, breaking his silence on tariffs, criticized protectionist policies over the weekend. “Trade should not be a weapon,” he said at Berkshire Hathaway’s annual meeting.
Disclaimer
The information contained in South Florida Reporter is for general information purposes only.
The South Florida Reporter assumes no responsibility for errors or omissions in the contents of the Service.
In no event shall the South Florida Reporter be liable for any special, direct, indirect, consequential, or incidental damages or any damages whatsoever, whether in an action of contract, negligence or other tort, arising out of or in connection with the use of the Service or the contents of the Service. The Company reserves the right to make additions, deletions, or modifications to the contents of the Service at any time without prior notice.
The Company does not warrant that the Service is free of viruses or other harmful components
