Trump Acknowledges Potential Economic Pain from Tariffs “`

President Trump acknowledges potential economic consequences for Americans resulting from new tariffs targeting Canada, Mexico, and China.

President Trump conceded that the newly implemented tariffs on several trading partners might cause some economic hardship for Americans, but maintained that these measures are crucial for bolstering the US economy. He also issued a warning that additional tariffs could be imposed on the European Union and potentially the UK if trade issues remain unresolved.

These latest tariffs, effective Tuesday, include a 25% duty on all goods from Canada and Mexico, with a 10% tariff specifically on Canadian energy exports. Chinese imports will also face a 10% tariff.

“WILL THERE BE SOME PAIN? YES, MAYBE (AND MAYBE NOT!),” Trump wrote on Truth Social 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.”

Responding to Canada’s retaliatory tariffs announced by Prime Minister Trudeau, Trump indicated a willingness to escalate the trade dispute, stating, “If they want to play the game, I don’t mind. We can play the game all they want,” to reporters at Joint Base Andrews.

In another social media post, Trump reiterated his proposal for Canada to join the US as a state, claiming that “without this massive subsidy, Canada ceases to exist as a viable country.”

Regarding potential tariffs on the EU, given a $350 billion trade deficit, Trump stated that “something is going to take place there,” although he didn’t provide a specific timeline, hinting at imminent action.

He further described the UK as “out of line,” but expressed optimism about resolving the trade issues.

Canada and Mexico have already responded to the tariff announcement. Trudeau has implemented a 25% levy on US goods, including alcohol and cosmetics, and threatened further countermeasures. Mexico has also indicated it will introduce retaliatory tariffs and promote domestic goods. China has announced “corresponding countermeasures” and intends to file a complaint with the World Trade Organization.