President Donald Trump acknowledged his aggressive China trade policies may mean economic pain for Americans but insisted they're needed for more important long-term benefits. Paraphrasing a reporter's question, Trump said, "Your statement about, 'Oh, will we fall into a recession for
1 / 4TrumpPresident Donald Trump speaks during a meeting with Romanian President Klaus Iohannis in the Oval Office of the White House, Tuesday, Aug. 20, 2019, in Washington. WASHINGTON — President Donald Trump acknowledged his aggressive China trade policies may mean economic pain for Americans but insisted they're needed for more important long-term benefits. He contended he does not fear a recession but is nonetheless considering new tax cuts to promote growth.
Paraphrasing a reporter's question, Trump said,"Your statement about, 'Oh, will we fall into a recession for two months?' OK? The fact is somebody had to take China on." Trump was clear that he didn't think the U.S. is at risk of a recession and that a boom was possible if the Federal Reserve would slash its benchmark interest rate.
Asked about his remarks, White House spokesman Judd Deere said,"The president does not believe we are headed for a recession. The economy is strong because of his policies." The president has long maintained that the burden of the tariffs is falling solely on China, yet that message was undermined by his statements to reporters Tuesday prior to a meeting in the Oval Office with the president of Romania.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trump and Greenland: Trump tweets edited photo of small village dominated by Trump high-risePresident Donald Trump told reporters Sunday that "we&39;re looking at" purchasing Greenland, but that "it&39;s not No. 1 on the burner." The government of the autonomous Danish territory said Friday that the strategically important island is "not for sale."
Read more »
'I am the Chosen One,' Trump proclaims as he defends trade war with ChinaThe president's remark followed a string of criticisms aimed at his predecessors, whom he claimed had ignored China's alleged malpractice on trade.
Read more »
Opinion | Trump Is Losing the Trade War With ChinaFrom WSJopinion: Donald Trump is losing the trade war with China. The markets doubt tariffs will bring about any major concessions, writes Jason Furman.
Read more »
Trump Might Want to Buy Greenland But His Nemesis, China, Is There Before HimPresident Trump is reportedly interested in buying Greenland but he will find that China has already staked a small claim
Read more »