Monday, February 3, 2025

Potential pain of tariffs 'Worth the Price' – Trump

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President Trump defended his decision on Sunday to impose radical tariffs on the three main commercial partners of the United States, recognizing that there may be “certain pain” caused by economic consequences.

Trump took the truth on Sunday morning after he signed with 25 percent tariffs on Canada, 25 percent tariffs in Mexico and 10 percent of tariffs in China, which probably trigger a significant commercial war.

The president responded to critics and argued that the decision was necessary due to “important” commercial deficits with those countries.

He wrote: “This will be the Golden Age of America! Will there be any pain? Yes, maybe (and maybe not!). But we will make the United States great again, and everything will be worth the price to be paid. We are a country that is now running with common sense, and the results will be spectacular! “

Trump, in a later publication, said that the United States does not need any Canadian product and suggested that Canada “should become our precious state 51”. Canadian officials have repeatedly rejected Trump's suggestion that the United States could attach Canada.

The president signed on Saturday tariffs on Mexico, Canada and China that will take effect on Tuesday. Canadian energy imports will only be argued to 10 percent.

Trump's orders signed do not contain exceptions, and include a clause that warns that Trump can increase rates if each country represents.

The movement led to rapid responses from the three nations.

Also read of Nigerian tribe : Canada: Justin Trudeau retaliates to Trump, hits 25% of tariffs on US goods

The Canadian Prime Minister Justin Trudeau, said Saturday night that Canada would impose tariffs of 25 percent to more than $ 100 billion of US goods. The probable successor of Trudeau, Pierre Poilievre, described the “unfair and unjustified” Trump tariffs and requested an “dollar dollar” response.

Mexican President Claudia Sheinbaum told X in Spanish that her team was working on an answer that included measures to defend the interests of her country, although the specific steps were not immediately clear.

The China Ministry of Commerce said it would present a legal case against the United States in the World Trade Organization (WTO).

Experts have repeatedly warned that tariffs could lead to higher costs that companies will transmit to consumers.

The Fiscal Foundation, a group of non -partisan experts, estimated that Trump tariffs announced on Saturday would result in what is equivalent to an average tax increase of $ 830 per household in the United States.

Democratic legislators have denounced Trump's decision as one that will increase prices despite their campaign promise to reduce inflation. Business groups, such as the United States Chamber of Commerce, have also criticized tariffs.

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