President Donald Trump said in a statement that Americans could feel “some pain” from the emerging trade war triggered by his tariffs against Canada, Mexico and China, and claimed Canada would “cease to exist” without a trade surplus with the United States.
The trade penalties Trump signed at his Florida resort on Saturday have sparked a mix of panic, anger and uncertainty, threatening to disrupt a decades-old trading partnership in North America while further straining relations with China. Trump has also threatened to impose higher tariffs elsewhere. He told reporters that import duties would “absolutely be imposed” in the European Union and possibly also in the United Kingdom. By fulfilling his campaign promise of tariffs, Trump may also have broken a promise he made to voters in last year’s election that his administration could quickly reduce inflation. That means his frustration with other nations could spread to consumers and businesses at home.
