US President Donald Trump has refused to say whether the US economy is facing a recession or price rises in the wake of his administration's changes to tariff threats against some of its closest trading partners. Asked if he was expecting a recession this year, Trump said there was a "period of transition" taking place.

Donald Trump once again acknowledged that his foolish trade wars will disrupt the economy, potentially causing a recession. But the president still spoke about the impending tariffs on Mexico and Canada as if they are paid by the exporting country rather than the American companies importing goods,