Trump acknowledges tariffs might bring ‘some pain’
Donald Trump acknowledges that new tariffs imposed on Canada, Mexico, and China may lead to economic consequences for Americans. Read Full Article at RT.com.
The new tariffs, set to take effect on Tuesday, include a 25% duty on all goods imported from Canada and Mexico, along with a 10% tariff specifically on Canadian energy exports. Imports from China will also incur a 10% tariff.
“WILL THERE BE SOME PAIN? YES, MAYBE,” Trump asserted in a Truth Social post on Sunday. “IT WILL ALL BE WORTH THE PRICE THAT MUST BE PAID. WE ARE A COUNTRY THAT IS NOW BEING RUN WITH COMMON SENSE – AND THE RESULTS WILL BE.”
In response to Canada’s retaliatory measures, which were unveiled by Prime Minister Justin Trudeau, Trump hinted at the potential for even higher tariffs. “If they want to play the game, I don’t mind. We can play the game all they want,” he remarked to reporters after arriving at Joint Base Andrews from Florida.
In another social media statement, Trump reiterated his proposal for Canada to become a US state, claiming that “without this massive subsidy, Canada ceases to exist as a viable country.”
When discussing potential import taxes on the EU, Trump mentioned a trade deficit of $350 billion, indicating that “something is going to take place there.” Although he did not provide a specific timeline, he implied that action would likely occur “pretty soon.”
He described the UK as “out of line” but expressed optimism that the issue “can be worked out.”
Both Canada and Mexico have already acted in response to last week’s tariff announcement. Trudeau implemented a 25% levy on various US goods, including alcohol and cosmetics, and hinted at further countermeasures. Mexico has also indicated its intention to impose retaliatory tariffs and promote domestic goods in reaction to US policies. Concurrently, China has declared “corresponding countermeasures” and intends to file a lawsuit with the World Trade Organization.
Allen M Lee for TROIB News