PALM BEACH: President Donald Trump said he will discuss the punishing tariffs he has levied on Canada and Mexico with both countries on Monday (Feb 3), after arguing that Americans may feel economic "pain" from the 25 per cent duties but that it will be "worth the price".
Speaking to reporters after he flew back to Washington Sunday evening from a weekend in Florida, Trump said he was "speaking with Prime Minister (Justin) Trudeau tomorrow morning, and I'm also speaking with Mexico tomorrow morning".
"I don't expect anything very dramatic," he added.
Trump has also hit China with a 10 per cent tariff in addition to levies already in place.
A fervent supporter of tariffs, Trump had always maintained that their impact would be borne by foreign exporters, without being passed on to American consumers, contradicting the opinion of a broad range of experts.
Earlier on Sunday he acknowledged, in a series of messages on his Truth Social network, that Americans may feel economic "pain" from his tariffs, but argued it would be "worth the price" to secure US interests.
China, Mexico and Canada are the top three US trade partners and all have vowed to retaliate when the tariffs take effect on Tuesday.
"Will there be some pain? Yes, maybe (and maybe not!)" Trump wrote on Sunday morning in all-caps on his Truth Social media platform.
"But we will Make America Great Again, and it will all be worth the price that must be paid."
Analysts expect the trade war to slow US growth and increase prices, at least in the short term, something the president had resisted acknowledging after frustration over rising costs was seen as a major factor in his 2024 election win.
Seeking to limit a spike in fuel prices, Trump has put the levy on energy imports from Canada at only 10 per cent.
The president has cited illegal immigration and the trafficking of the deadly opioid fentanyl as reasons for the "emergency" measures.
But on Sunday he also expressed general outrage at trade deficits, which he has long viewed as signs of unfair treatment against the United States.
"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.
The tariffs announcements capped an extraordinary second week of Trump's new term, with the president facing the worst US aviation disaster in years – even as his administration moved to drastically overhaul the government in actions decried by critics as illegal.