President Donald Trump claimed that although the 25 percent tariffs would cause economic “pain” for Americans, they would be “worth the price.” He then stated that he will speak with both Canada and Mexico on Monday about the harsh tariffs he has imposed on both nations.
After returning from a weekend in Florida on Sunday night, Trump told reporters he was “speaking with Prime Minister (Justin) Trudeau tomorrow morning, and I’m also speaking with Mexico tomorrow morning.”
“I don’t expect anything very dramatic,” he stated.
Trump has also hit China with a 10-percent tariff in addition to levies already in place.
Trump, a staunch advocate of tariffs, has consistently insisted that the effects of the policy would be borne by foreign exporters rather than being transferred to American consumers, which was in direct opposition to the views of numerous experts.
In a series of posts posted on his Truth Social network earlier Sunday, he admitted that his tariffs could cause economic “pain” for Americans, but he maintained that it would be “worth the price” in order to protect US interests.
The major three US trading partners—China, Mexico, and Canada—have all threatened to respond when the tariffs go into force on Tuesday.
“Will there be some pain? Yes, maybe (and maybe not!)” Trump wrote Sunday morning in all-caps on his Truth Social media platform.
“But we will Make America Great Again, and it will all be worth the price that must be paid.”
After his 2024 election victory was largely attributed to his unhappiness with rising costs, the president had resisted admitting that the trade war would hinder US GDP and raise prices, at least temporarily.
Trump has merely imposed a 10 percent tax on energy imports from Canada in an effort to prevent a spike in fuel costs.
The president has justified the “emergency” measures by pointing to illegal immigration and the trade of fentanyl, a deadly narcotic.
But on Sunday he also expressed general outrage at trade deficits, which he has long viewed as signs of unfair treatment against the United States.
“The USA has major deficits with Canada, Mexico, and China (and almost all countries!), owes 36 Trillion Dollars, and we’re not going to be the ‘Stupid Country’ any longer,” he wrote.
The tariffs announcements capped an extraordinary second week of Trump’s new term, with the president facing the worst US aviation disaster in years — even as his administration moved to drastically overhaul the government in actions decried by critics as illegal.
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