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In a major policy shift, President Donald Trump warned on Sunday that Americans might experience \u201csome pain\u201d due to new tariffs on imports from Canada, Mexico, and China. He justified the move as necessary to combat illegal immigration and drug trafficking, claiming Canada would \u201ccease to exist\u201d without its trade surplus with the U.S.\n

Signed at Trump\u2019s Florida resort, the tariffs have raised concerns, potentially disrupting North American trade and straining relations with China. Canadian Ambassador Kirsten Hillman expressed confusion, stating, \u201cCanadians are perplexed. We view ourselves as your neighbor, your closest friend, your ally.\u201d\n

While fulfilling a campaign promise, Trump risks undermining his pledge to lower inflation. Acknowledging this, he wrote on social media, \u201cWILL THERE BE SOME PAIN? YES, MAYBE (AND MAYBE NOT!). BUT WE WILL MAKE AMERICA GREAT AGAIN, AND IT WILL ALL BE WORTH THE PRICE THAT MUST BE PAID.\u201d\n

The administration has not specified the economic impact or conditions for lifting the tariffs, set to take effect Tuesday. Homeland Security Secretary Kristi Noem suggested any price hikes would result from external reactions rather than the tariffs themselves.\n

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Trump on tariffs: “We may have short term, some, a little pain. And people understand that.” pic.twitter.com\/cDJI6rbmmW\n

\u2014 Aaron Rupar (@atrupar) February 3, 2025\n

Trump has singled out Canada, which responded with its own tariffs. The U.S. is imposing a 25% tariff on Canadian goods and a 10% tax on oil, gas, and electricity. In retaliation, Canada is placing 25% tariffs on over $155 billion Canadian (US$105 billion) worth of U.S. products, including alcohol and fruit.\n

Trump dismissed Canada\u2019s importance, stating, \u201cWe don\u2019t need anything they have. We have unlimited Energy, should make our own Cars, and have more Lumber than we can ever use.\u201d Despite this, Canada supplies 25% of U.S. oil. He went further, claiming Canada should become the U.S.\u2019s 51st state to benefit from lower taxes and stronger military protection.\n

Prime Minister Justin Trudeau urged Canadians to buy domestic goods, warning the tariffs would harm North America\u2019s economy. With 75% of Canada\u2019s exports going to the U.S., its countermeasures target a range of industries, from agriculture to steel. Ambassador Hillman noted, \u201cCanadians just don\u2019t understand where this is coming from \u2026 and probably there\u2019s a little bit of hurt, right?\u201d\n

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Mexico, also imposing retaliatory tariffs, urged the U.S. to address domestic drug issues instead. After discussions with Trudeau, President Claudia Sheinbaum reaffirmed a stronger Mexico-Canada alliance. Meanwhile, China plans to challenge the tariffs at the World Trade Organization.\n

For Trump, a key concern is whether inflation will turn the tariffs into a political liability. Previously, he blamed Biden for inflation and promised economic stability under his leadership. However, his new tariffs could have the opposite effect.\n

Former Treasury Secretary Larry Summers warned they could increase inflation by 1% and hurt American consumers. \u201cOn the playground or in international relations, bullying is not an enduringly winning strategy. And that\u2019s what this is,\u201d he said, adding that the move could benefit China\u2019s Xi Jinping by weakening U.S. alliances.\n

Analysts suggest Trump\u2019s tariffs may ultimately harm the voters he aims to help. The Budget Lab at Yale estimates they could cost the average U.S. household $1,245 this year, amounting to a $1.4 trillion tax increase over a decade. Goldman Sachs believes the tariffs will likely take effect as planned, though a last-minute compromise remains possible.\n","protected":false},"excerpt":{"rendered":"

In a major policy shift, President Donald Trump warned on Sunday that Americans might experience \u201csome pain\u201d due to new tariffs on imports from Canada, Mexico, and China. He justified the move as necessary to combat illegal immigration and drug trafficking, claiming Canada would \u201ccease to exist\u201d without its trade surplus with the U.S. Signed …\n","protected":false},"author":31,"featured_media":98282,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1442,670],"tags":[],"class_list":["post-98281","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-celebrity","category-news"],"_links":{"self":[{"href":"https:\/\/echowoven.com\/wp-json\/wp\/v2\/posts\/98281","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/echowoven.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/echowoven.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/echowoven.com\/wp-json\/wp\/v2\/users\/31"}],"replies":[{"embeddable":true,"href":"https:\/\/echowoven.com\/wp-json\/wp\/v2\/comments?post=98281"}],"version-history":[{"count":1,"href":"https:\/\/echowoven.com\/wp-json\/wp\/v2\/posts\/98281\/revisions"}],"predecessor-version":[{"id":98285,"href":"https:\/\/echowoven.com\/wp-json\/wp\/v2\/posts\/98281\/revisions\/98285"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/echowoven.com\/wp-json\/wp\/v2\/media\/98282"}],"wp:attachment":[{"href":"https:\/\/echowoven.com\/wp-json\/wp\/v2\/media?parent=98281"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/echowoven.com\/wp-json\/wp\/v2\/categories?post=98281"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/echowoven.com\/wp-json\/wp\/v2\/tags?post=98281"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}