Economists say Trump is proving to be an "agent of chaos" with his unpredictable trade tariff policies but a downturn isn't in the cards just yet.

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.

US President Donald Trump has refused to say whether the US economy is facing a recession or price rises in the wake of his administration's changes to tariff threats against some of its closest trading partners.