Trump warns tariff turmoil but vows 'economic revival'

President Donald Trump acknowledged there may be an "adjustment period" as his tariffs take effect, but defended his push to remake the US economy and declared "momentum is back" in a primetime speech to Congress on Tuesday night.

- Bloomberg

WASHINGTON:

"Tariffs are about making America rich again and making America great again.

"And it's happening, and it will happen rather quickly," Trump said in the longest-ever presidential address to a joint session. "There'll be a little disturbance, but we're okay with that. It won't be much." Trump's address comes at a pivotal moment.

Data shows new strains on the economy as factory activity stagnates, inflation simmers, consumer confidence ebbs, and stocks lag behind equity markets in other countries.