Trump's implemented and planned tariffs have rattled markets and raised recession concerns, while foreign companies consider moving manufacturing to U.S.

In a rare moment of honesty during a Fox News interview that aired Sunday morning, Trump declined to rule out the possibility that the 25 percent tariffs he imposed on Mexico and Canada this past week (and then paused—again), could trigger a recession.

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.”