Trump promotes coal production to tackle U.S. inflation

President Donald Trump is taking steps to combat inflation by promoting the production of electricity from U.S. coal plants. He made this announcement on social media, emphasizing a need for "clean coal" energy despite environmental concerns. Trump blames "Environmental Extremists" for hindering America's energy production and believes that boosting coal use will help the economy. Additionally, Trump confirmed that the U.S. will not provide exemptions on upcoming tariffs. These tariffs, which are scheduled to start next month, could raise prices and affect the economy. Recently implemented tariffs of 25% on steel and aluminum imports are also set to remain in place. Despite recent concerns about a recession, stocks increased for the second consecutive day. Treasury Secretary Scott Bessent acknowledged the possibility of a recession but did not provide any predictions. Trump himself has been hesitant to comment on the chances of a recession. Tariffs are taxes on imports, which can lead to higher consumer prices. Economists believe tariffs can hurt overall economic output. Trump has stated that his tariffs aim to encourage cooperation from countries like China, Canada, and Mexico to address issues like illegal immigration and drug trafficking. Concerns about a potential recession are growing. A recession could occur if unemployment rises, corporate profits decline, and home prices fall. Many experts have different opinions on when a recession starts and ends.