Trump says Americans could feel some pain from emerging trade war, but will be worth the price
Claims that Canada would “cease to exist” without its trade surplus with the United States
Palm Beach: President Donald Trump said on Sunday that Americans could feel “some pain” from the emerging trade war triggered by his tariffs against Canada, Mexico and China, and claimed that Canada would “cease to exist” without its trade surplus with the United States.
The trade penalties that Trump signed on Saturday at his Florida resort caused a mix of panic, anger and uncertainty, and threatened to rupture a decades-old partnership on trade in North America while further straining relations with China.
But by following through on a campaign pledge, Trump may have simultaneously broken his promise to voters in last year’s election that his administration could quickly reduce inflation.
“WILL THERE BE SOME PAIN? YES, MAYBE (AND MAYBE NOT!),” Trump said in a social media post. “BUT WE WILL MAKE AMERICA GREAT AGAIN, AND IT WILL ALL BE WORTH THE PRICE THAT MUST BE PAID.”
His administration has not said how high that price could be or what improvements would need to be seen in stopping illegal immigration and the smuggling of fentanyl to merit the removal of the tariffs that Trump imposed under the legal justification of an economic emergency. The tariffs are set to launch on Tuesday.
In his Truth Social post, Trump took particular aim at Canada, which responded with retaliatory measures. Trump is placing a 25 per cent tariff on Canadian goods, with a 10 per cent tax on oil, natural gas and electricity. Canada is imposing 25 per cent tariffs on more than $155 billion on US products, including alcohol and fruit.
Trump railed against Canada’s trade surplus with the US: “We don’t need anything they have. We have unlimited Energy, should make our own Cars, and have more Lumber than we can ever use.”
Despite Trump’s claim that the US does not need Canada, one-quarter of the oil that the America consumes per day is from its ally to the north.
Trump contended that without that surplus, “Canada ceases to exist as a viable Country. Harsh but true! Therefore, Canada should become our Cherished 51st State. Much lower taxes, and far better military protection for the people of Canada — AND NO TARIFFS!”
