Trump brushes off recession concerns

SAN FRANCISCO - President Donald Trump on Sunday dismissed concerns about the economy from businesses seeking stability, and did not rule out the possibility of coming economic hardship.

In an interview with Fox News Channel’s "Sunday Morning Futures" – his first sit-down with the program since assuming office a second time – the president was asked if some of his policies, namely enacting tariffs on U.S. trade partners, could be leading the country into a recession.

Trump said he "hate(s) to predict things like that," but did not eliminate the prospect of an economic decline.

"There is a period of transition because what we’re doing is very big," Trump said. "We're bringing wealth back to America. That's a big thing."

What they're saying:

Donna Crane, a political science lecturer at San Jose State University, told KTVU that the imposition of trade taxes, coupled with layoffs at the federal level, will likely have an adverse effect on the country's economy.

"Probably we would agree that Trump won on the strength of his position on the economy, and the combination of tariffs and mass layoffs are going to have a bite at some point," Crane said.

During the Sunday interview, the president claimed the tariffs have already had the desired effect of having automakers such as Honda and Toyota move some of their manufacturing plants back to the U.S. 

Trump also touted that Taiwan Semiconductor Manufacturing Company Limited (TSMC) would be investing at least $100 billion to grow its U.S. manufacturing capabilities.

However, the CEO of of TSMC said the decision to invest in U.S. facilities was made long before Trump assumed office, and had more to do with high demand in American markets.