Trump brushes off concerns of recession, touts strong economy

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Trump: We're not having a recession

President Trump offered an optimistic outlook of the economy Sunday and dismissed concerns of a looming recession after losses in financial markets last week and amid his ongoing trade war with China that some say could determine his re-election chances in 2020. "I don't think we're having a recession," Trump told reporters as he returned to Washington from his New Jersey golf club. "We're doing tremendously well."

On Twitter, Trump tweeted the following: "Our economy is the best in the world, by far. Lowest unemployment ever within almost all categories. Poised for big growth after trade deals are completed. Import prices down, China eating Tariffs. Helping targeted Farmers from big Tariff money coming in. Great future for USA!" Larry Kudlow, director of the National Economic Council under Trump, said on “Fox News Sunday” he does not foresee a recession “at all.”

On the trade war with China, Trump said Apple CEO Tim Cook privately made a "very compelling argument" that the administration's tariffs on Chinese-assembled goods have made an unfair impact on the California-based tech giant, because its chief rival, Samsung, has conducted most of its manufacturing in South Korea and did not have to pay the levy. Still, the president also warned China against 'another Tiananmen Square,' saying there might not be an end to the trade war if the government resorts to "violence" to crush demonstrators in Hong Kong.