EVERYBODY HURTS

Trump’s Bombshell Admission: You May Suffer From My Tariffs

“It will all be worth the price that must be paid,” President Donald Trump said of the tariffs his administration plans to levy on Canada, Mexico and China.

President Donald Trump acknowledged Sunday that his decision to levy tariffs on imports from Canada, Mexico and China could result in “some pain” for the United States.

“THIS WILL BE THE GOLDEN AGE OF AMERICA!” he wrote, in a post on Truth Social, blasting critics of his protectionist policy. “WILL THERE BE SOME PAIN? YES, MAYBE (AND MAYBE NOT!).”

The Trump administration announced Saturday that it will levy 25 percent import tariffs on all goods from Mexico and most goods from Canada, as well as a 10 percent tariff on imports from China.

Canadian Prime Minister Justin Trudeau announced retaliatory 25 percent tariffs on over $100 billion in U.S. goods. Mexican President Claudia Sheinbaum signaled that she had instructed officials to prepare a similar retaliation.

“We don’t want to be here, we didn’t ask for this,” Trudeau said, of Trump’s trade war.

During a press conference Saturday, Trudeau reserved the initial part of his statement to directly address Americans, warning them that Trump’s tariffs would make their lives worse by driving up the cost of goods.

TIT FOR TARIFF

Trudeau Tells Trump: Tariff War Will Shut American Factories

Hugh Dougherty

Analysts at research firm Capital Economics said 25 percent tariffs on goods from Canada and Mexico would bring the U.S. inflation rate up to about 3.2 percent.

Among the goods that will likely cost more are fruit, vegetables, cars, smartphones and, because of the Canadian tariffs, maple syrup.

U.S. manufacturers and farmers—which depend on tightly knit North American supply chains—are also likely to suffer, economists have said.

For Canada, where exports to the U.S. are equal to nearly 18 percent of the gross domestic product, the economic consequences could be dire.

In his Truth Social post, Trump claimed that any pain that comes as a result of his economic warring—which he claimed is designed to end the U.S. “subsidizing” other countries—will be worth it.

“WE WILL MAKE AMERICA GREAT AGAIN, AND IT WILL ALL BE WORTH THE PRICE THAT MUST BE PAID,” he wrote. “WE ARE A COUNTRY THAT IS NOW BEING RUN WITH COMMON SENSE — AND THE RESULTS WILL BE SPECTACULAR!!!"

See more of our coverage in your search results.

ADD THE DAILY BEAST ON GOOGLE

Sean Craig

Got a tip? Send it to The Daily Beast here.