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.
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