Trump says US economy in 'transition' as trade war escalates

New retaliatory tariffs from China targeting some US farm products came into effect on Monday.

British Broadcasting CorporationWatch LiveHomeNewsSportBusinessInnovationCultureArtsTravelEarthAudioVideoLiveHomeNewsIsrael-Gaza WarWar in UkraineUS & CanadaUKUK PoliticsEnglandN. IrelandN. Ireland PoliticsScotlandScotland PoliticsWalesWales PoliticsAfricaAsiaChinaIndiaAustraliaEuropeLatin AmericaMiddle EastIn PicturesBBC InDepthBBC VerifySportBusinessExecutive LoungeTechnology of BusinessFuture of BusinessInnovationTechnologyScience & HealthArtificial IntelligenceAI v the MindCultureFilm & TVMusicArt & DesignStyleBooksEntertainment NewsArtsArts in MotionTravelDestinationsAfricaAntarcticaAsiaAustralia and PacificCaribbean & BermudaCentral AmericaEuropeMiddle EastNorth AmericaSouth AmericaWorld’s TableCulture & ExperiencesAdventuresThe SpeciaListEarthNatural WondersWeather & ScienceClimate SolutionsSustainable BusinessGreen LivingAudioPodcastsRadioAudio FAQsVideoLiveLive NewsLive SportHomeNewsSportBusinessInnovationCultureArtsTravelEarthAudioVideoLiveWeatherNewslettersTrump says US economy in 'transition' as trade war escalates6 hours agoShareSaveJoão da SilvaBusiness reporter, BBC NewsShareSaveGetty ImagesNew tit-for-tat tariffs from China, which target some US farm products, came into effect on MondayUS President Donald Trump has refused to say whether the US economy is facing a recession or price rises in the wake of his administration's changes to tariff threats against some of its closest trading partners.

Asked if he was expecting a recession this year, Trump said there was a "period of transition" taking place.

Commerce Secretary Howard Lutnick, however, insisted there would be no contraction in the world's largest economy, while acknowledging that the price of some goods may rise.

It comes after a volatile week for US financial markets as investors grappled with uncertainty from his administration's U-turn on some key parts of its aggressive trade policies.

New tit-for-tat tariffs from China, which target some US farm products, came into effect on Monday.

https://www.bbc.com/news/articles/cz61nn99eg1o

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