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.

The U.S. economy will experience a "period of transition" as new trade and other policies take effect, President Trump said Sunday, though he hesitated to predict a full-blown recession. Why it matters: While the president may not be forecasting it,