Trump Says Tariff 'Pain' Will Be 'Worth the Price'
Sunday, 02 February 2025 12:50 PM EST
President Donald Trump said on Sunday the sweeping tariffs that he has imposed on Mexico, Canada and China may cause "some pain" for Americans, as Wall Street and the largest U.S. trading partners signaled hope that the trade war would not last long.
Trump, who began his second term as president on Jan. 20, defended the tariffs that he announced on Saturday. Canada and Mexico said they were working together to face the 25% U.S. duties on imports, which promise to jolt the integrated economies of three North American countries that have had free-trade agreements for decades.
Canada and Mexico immediately vowed retaliatory measures after Trump's announcement on Saturday. China said it would challenge Trump's 10% tariffs at the World Trade Organization and take unspecified countermeasures.
Critics said that the moves against the three largest U.S. trading partners will hurt Americans by driving prices higher and slowing global growth.
Trump defended his decision on social media on Sunday. "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," the Republican president wrote.
Writing in capital letters, Trump added, "This will be the golden age of America! Will there be some pain? Yes, maybe (and maybe not!)."
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READ MORE: https://www.newsmax.com/world/globaltalk/trump/2025/02/02/id/1197493/
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