President Donald Trump did not deny there could be a recession this year under his leadership, telling Fox News there would be a “period of transition” as his economic policies take effect, as the president’s rapidly shifting tariffs on goods from Mexico and Canada have rattled the stock market and led to warnings of an economic downturn.

"I hate to predict things like that," Trump said when pressed about the possibility of a recession during a recorded interview that aired on "Sunday Morning Futures with Maria Bartiromo."