Commerce Secretary Howard Lutnick emphatically rejected the risks of a recession even as markets slide — and said America’s biggest trading partners could easily avoid Trump’s twice-delayed tariffs. Lutnick, 63, was asked if he was worried about the US sliding into recession Sunday on NBC’s “Meet the Press” — and gave an unequivocal answer.

U.S. tariffs of 25% on imports of steel and aluminum will take effect as scheduled on Wednesday, Lutnick said.

Lutnick's analysis comes weeks after China filed a lawsuit against the U.S. with the World Trade Organization over its 10% tariff. It issued its own 10% tariff.