Trump bats down fears of US recession

As President Trump wages a trade war against China, the president is dismissing fears that the U.S. economy is showing signs it could be headed for a recession.
3:12 | 08/19/19

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Transcript for Trump bats down fears of US recession
I don't see a recession I'm in the world is that a recession right now. It's a big a stay bit but if you look at giant energized they're very very poorly. They've had ideas a record the event that wears you they've added 27 years because of what I've done. They want a cab to the negotiating table you know there. Having companies lose I mean they're leaving the companies are living. And they're laying off millions of people because they don't want a break when he 5%. And that's why they wanna go under the table I don't think there's another reason other than presidency I'm Joseph likes me very much but they're losing. Millions and millions of jobs in China. And where not betting for the tariffs China is banked at that Arabs by the 100. And I sit tariffs or very well other countries it made me that if I do things without the countries but indications of giant. China is eating. That Paris. At least so far. To honestly am prepared for everything out of the grabbing the recession would do it tremendously well. I consumers are rich I gave a tremendous tax cut. And that loaded up with money that buying -- study Wal-Mart numbers they would rather it's just days ago. That's better than any ball it's better than any economist. And most economists actually save bill that would not going to have a recession most of mr. went back and have a recession. But the rest of the world is not doing well like we're doing the rest of the world if you look at. Germany if you look at. European Union. Frankly looked at the UK I mean look at a lot of countries not doing well giant is doing poorly parts of aged doing poorly. We are doing. Better than any. Country or even area anywhere in the world good doing great. And our consumer is really really strong and it looks like they're going to be for a long time. Also. When you go in and analyze the care they carbo is means that. About two years later maybe he'll go out so long time do years but I don't think so interest rates are low I think I could be helped out by the Fed. But the Fed doesn't like helping me do much. But it you know frankly. We have money that's pouring into our country because they want this security if the United States. We have billions and billions of dollars daily that's boring and we've never add anything like that is. Because they want to come into the United States that's a great thing that means we can loan that money mortgage rates are at an all time low. Borrowing costs are at an all time low. It's probably a great time I told secretary and an action that is a great time to refinance our bonds are some of our bonds. In the money is pouring into the US like never before are. And like no other country has ever experience including China money I mean giant money everybody. They're all coming into the US knowing that Saturday they like it I think our economy is very very good.

This transcript has been automatically generated and may not be 100% accurate.

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