President Donald Trump said tariffs on some goods from Canada and Mexico planned for April 2 “could go up,” and would not predict whether the United States will have a recession in 2025.

The recent tariffs imposed on goods from Canada, Mexico, and China are raising concerns about their impact on US consumers and the broader economy. S&P Global Ratings global chief economist Paul Gruenwald joins Wealth host Madison Mills to discuss how the tariffs will likely be passed onto US consumers.

President Trump said that Americans would be better off in the long run from his tariffs, which he said would prevent the country from being “ripped off.”