In fact, former President Donald Trump suspended increased tariffs on all countries for a period of 90 days while negotiations ensued. This move comes amid rising concerns over a potential economic recession, which Trump addressed in a recent interview with NBC News. He hiked tariffs on China to more than 100 percent, adding to the self-inflicted economic carnage.
In the NBC News interview, scheduled to air on Sunday, Trump expressed confidence in the strength of the U.S. economy. He stated, “This is a transition period. I think we’re going to do fantastically.” His remarks signal a long-held opinion that the economy is still strong, even though recent signs are pointing in the opposite direction.
Even then, Trump said that a recession was on the horizon but that all the economic volatility was the fault of current President Joe Biden. He maintained that the havoc in the market was a result of Biden’s policies instead of his own hawkish tariff tactics. “The volatility of the stock market was caused by Joe Biden,” Trump stated, emphasizing his stance that economic issues are not a result of his administration’s actions.
According to realistic data, U.S. gross domestic product (GDP) declined 0.3 percent in the first quarter of this year. This is the first time we’ve seen negative growth since 2022. Significantly, this downturn happened before Trump’s tariff announcements, signals of trade war anxiety, and any other trade noise. His economic policies have contributed to perhaps the most tectonic shift in the international order since China’s opening up. They have caused serious market swings.
During a rally at Macomb Community College in Warren, Michigan, on April 29, 2025, Trump reiterated his views on the economy and reassured supporters about his administration’s direction. His escalating trade war with China has put most other countries on his new, more complex, and highly conditional list of U.S. trading partners.
Tariff negotiations and trade discussions in general remain fraught. By removing the threat of immediate higher tariffs, Trump’s decision provides short-term relief for all sides as talks continue. Trump’s approach has come under bipartisan fire. It doesn’t answer key questions, particularly about the long-term impact on both the economy and international relations.
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