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.

U.S. tariffs that took effect on Tuesday are threatening to derail Canada's fledgling economic recovery and will fuel rise in consumer prices and unemployment, potentially triggering a recession. Canada relies on the United States for 75% of its exports and a third of all imports.

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

A key economic adviser to President Donald Trump on Monday pushed back on talk of recession stemming from uncertainty around his administration's tariff policies, even as a survey of American households showed consumers growing more pessimistic about their prospects,

"If the United States escalates, I will not hesitate to shut the electricity off completely," Doug Ford said Monday.

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 Trump’s twice-delayed tariffs. Lutnick, 63, was asked if he was worried about the US sliding into recession Sunday on NBC’s “Meet the Press” — and gave an unequivocal answer.

Donald Trump said in an interview with Fox News he paused some U.S. tariffs because he 'wanted to help Mexico and Canada to a certain extent,' but added tariffs could also go up.

The selloff in US equities accelerated Monday, with major averages on track for their worst day this year, after a weekend of Trump administration officials warning that the American economy may be in for a rough patch.