A day after signing steep new tariffs on Mexico, Canada and China, President Donald Trump acknowledged what economists, members of Congress and even some of his own aides — in their previous lives — have been saying all along: Americans may find themselves paying the costs.
“THIS WILL BE THE GOLDEN AGE OF AMERICA! WILL THERE BE SOME PAIN? YES, MAYBE (AND MAYBE NOT!),” Trump posted, in all capital letters, on his Truth Social platform.
The message, which appeared in the hour before Trump arrived to his West Palm Beach, Florida, golf club for the second day in a row, amounted to an advance warning. Trump is serious about fulfilling his campaign promises to end illegal immigration, curb the flow of deadly drugs and rebalance continental trade. But doing so will be uncomfortable — or worse — for Americans already contending with a high cost of living.
“WE WILL MAKE AMERICA GREAT AGAIN, AND IT WILL ALL BE WORTH THE PRICE THAT MUST BE PAID,” Trump wrote. “WE ARE A COUNTRY THAT IS NOW BEING RUN WITH COMMON SENSE — AND THE RESULTS WILL BE SPECTACULAR!!!”
As industries brace for the new tariffs — 25% on goods from Mexico and Canada, and 10% on imports from China — it remains to be seen how long it will take for higher costs to have an impact on American consumers. The tariffs are set to go into effect Tuesday at 12:01 a.m. ET.
In a tacit acknowledgement that upside pressures could affect Americans’ gas and heating costs, Trump levied only a 10% tariff on Canadian oil and gas.
Already, Canada and Mexico have moved to retaliate — reluctantly, in the case of Prime Minister Justin Trudeau, who said during a somber address from Ottawa late Saturday: “We don’t want to be here.”
If the back-and-forth tariffs remain in place for a prolonged period, the “pain” Trump warned of could become a reality.
But even some Trump allies have privately hoped that after implementing the harsh new duties — and proving to the world he’s willing to act decisively — Trump could eventually ease up, as long as he’s extracted some concessions.
What exactly those concessions are, however, isn’t clear. Before implementing the tariffs, Trump did not meet or speak on the telephone with Trudeau or with Mexican President Claudia Sheinbaum to spell out his demands.
Trudeau said Saturday he’d been trying to reach Trump since the inauguration, but his calls have not been returned.
Briefing reporters Saturday evening, White House officials declined to lay out specific benchmarks that Canada or Mexico could reach in tightening their borders or curbing fentanyl flows that would allow the tariffs to be lifted.
And Trump himself told reporters late Friday he wasn’t looking for any concessions at all. In his social media posting Sunday morning, his rationale for the tariffs extended well beyond punishment for the illicit flow of fentanyl.
“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,” he wrote. “MAKE YOUR PRODUCT IN THE USA AND THERE ARE NO TARIFFS!”
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