SUMMARY: Despite a recent stock market selloff, Trump stated he does not foresee a recession, emphasizing that he believes the country will experience a significant boom. He acknowledged that his current approach may be challenging but insists it will yield vastly better results. Trump suggested that opportunistic investors could take advantage of the market decline by making valuable purchases. Additionally, he discussed a call with Canada’s leader regarding tariffs, expressing respect for the decision not to impose electricity tariffs on the U.S. and hinting at possible adjustments to existing tariffs on Canada.

U.S. President Donald Trump said he doesn’t see a recession ‘at all’ despite brutal stock market selloff on Monday and ongoing jitters Tuesday.

“I don’t see it at all,” Trump answered a reporter’s question on fears of an economic recession. “I think this country is going to boom,” he said.

Shortly before Trump spoke at the White House, Ontario Premier Doug Ford said that U.S. Commerce Secretary Howard Lutnick called him and Ford agreed to remove the surcharge on electricity sold to the United States.

Ford said he was confident the U.S. president would also stand down on his own plans for 50% tariffs on Canadian steel and aluminum.

“I’m looking at that but probably so,” Trump said of not imposing additional tariffs on Canada.

Responding to further questions, Trump said he “appreciated” Ford’s call. “I thought it was nice. ”

The U.S. stock market fell further Tuesday following Trump’s latest escalation in his trade war, briefly pulling Wall Street 10% below its record set last month. And like it’s been most of the past few weeks, the market’s slide on Tuesday was erratic and dizzying.

Such head-spinning moves are becoming routine in what’s been a scary ride for investors as Trump tries to remake the country and world through tariffs and other policies. Stocks have been heaving mostly lower on uncertainty about how much pain Trump is willing for the economy to endure in order to get what he wants.

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SUMMARY: President Trump’s tariffs on China, Mexico, and Canada have raised concerns about a potential recession in the U.S. A recession is defined as a significant decline in economic activity, lasting more than a few months, often marked by two consecutive quarters of negative GDP. During a recession, unemployment typically rises, consumer spending often decreases, and manufacturing can decline, leading to falling prices and increased government deficits. Current predictions of a recession’s likelihood vary, with Goldman Sachs estimating a 20% chance, and J.P. Morgan Chase forecasting a 40% chance, highlighting the uncertainty among experts.

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SUMMARY: The U.S. announced the restoration of military aid and intelligence sharing to Ukraine after talks in Jeddah, Saudi Arabia. Ukraine expressed readiness to accept a proposed 30-day ceasefire, contingent on Russian agreement. A joint statement emphasized that U.S. communication with Russia will stress that their cooperation is essential for peace. The U.S. will provide $4 billion in military aid and begin discussions on a comprehensive peace agreement, involving European partners. U.S. officials expressed hope that Russia would agree to the ceasefire, signaling a potential shift towards diplomatic resolution, while highlighting Ukraine’s gratitude for American support.

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