Trump said tariffs on some goods from Canada and Mexico planned for April 2 “could go up” and would not predict whether the United States will have a recession.

President Trump said that Americans would be better off in the long run from his tariffs, which he said would prevent the country from being “ripped off.”

“Adding to the uncertainty, Trump, in a newly aired interview, declined to rule out the possibility of a U.S. recession this year," Jake Ostrovskis, an over-the-counter trader at market maker Wintermute, told Fortune, adding that the president reiterated his view that “short-term economic pain is likely.”