Voters sent President Donald Trump back to the Oval Office on his pledge to lower costs on Day One and usher in a new “golden age” of American prosperity. But the dizzying pace of his executive actions has unnerved some economists who are projecting a downturn or even a recession.

In his State of the Union address, Trump conceded his steep import tariffs will have some negative impact, but insisted it “won’t be much.”

Union-style address to Congress, with his remarks coming as the U.S. stock market has dropped on his moves with tariffs.