Trump’s Tariffs May Hit Consumers Hard, But He Says It’s ‘Worth the Price’

TDT | Manama
Email : ashen@newsofbahrain.com

President Donald Trump warned on Sunday that Americans could face economic hardship as a result of the escalating trade war sparked by his newly imposed tariffs on Canada, Mexico, and China. He further claimed that Canada would “cease to exist” without its trade surplus with the United States.

The trade penalties, which Trump signed into effect on Saturday at his Florida resort, have triggered widespread panic, anger, and uncertainty among trade partners. The move threatens to unravel decades-old economic cooperation in North America while further exacerbating tensions with China.

Returning to Washington on Sunday night, President Trump signaled his willingness to expand the tariffs even further, telling reporters that additional import taxes on the European Union and possibly the United Kingdom were inevitable. “They will definitely happen,” he said.

Escalating Tensions and Retaliation

Canada and Mexico, longstanding trade partners of the U.S., have expressed strong opposition to the tariffs. Despite the likelihood of retaliatory measures, Trump remained defiant, stating, “If they want to play the game, I don’t mind. We can play the game all they want.”

The president also announced plans to engage in discussions with Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum on Monday to address the growing trade tensions.

Economic Consequences and Public Reaction

The decision to impose tariffs aligns with Trump’s campaign promise to protect American industries, but it also risks undermining his pledge to curb inflation. As import taxes drive up costs for businesses and consumers, economic analysts warn that inflationary pressures could intensify, leading to domestic frustration.

In a social media post on Sunday, Trump acknowledged potential economic pain but remained resolute in his stance. “WILL THERE BE SOME PAIN? YES, MAYBE (AND MAYBE NOT!),” he wrote. “BUT WE WILL MAKE AMERICA GREAT AGAIN, AND IT WILL ALL BE WORTH THE PRICE THAT MUST BE PAID.”

As markets brace for potential fallout, the world watches closely to see how North American allies and global trading partners respond to Trump's latest economic maneuver.