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.

President Donald Trump is dismissing business concerns over the uncertainty caused by his planned tariffs on a range of American trading partners and the prospect of higher prices, and isn’t

Treasury Secretary Howard Lutnick is dismissing warnings that Trump’s trade policies will drive economic growth, as a Bitcoin chill hits the markets.

Economic forecasts have been weakening. While some see slower growth, several commentators see the chance of an outright recession rising this year.

Risks to the Mexican, Canadian and American economies are piling up amid a chaotic implementation of U.S. tariffs that has created deep uncertainties for businesses and decision-makers, according to Reuters polls of economists taken this week.