United States President Donald Trump has warned Americans that they could face economic "suffering" due to the trade tariffs he has just imposed on US trading partners.
He also threatened a broader trade war, to include the European Union (EU) and, perhaps, the United Kingdom.
"Will there be suffering? Yes, maybe (and maybe not!)" Trump wrote on his social platform on February 2 regarding the impact the tariffs could have on American consumers.
"However, it will be worth the rent burden," he added.
Trump told reporters he intends to speak with the leaders of Canada and Mexico on February 3 about the tariffs - which experts say could destabilize the global economy.
But Trump did not indicate whether he was reconsidering his actions.
"I don't expect anything too dramatic," he said.
Trump said tariffs on EU goods would "definitely be imposed" and that it would happen "very quickly."
He also hinted that the UK could also face tariffs.
The EU said on February 2 that it would respond "strongly" if Trump imposes tariffs, despite hoping to avoid a trade war through talks.
"The European Union regrets the US decision to impose tariffs on Canada, Mexico and China," a European Commission spokesperson said.
The affected countries – Canada, Mexico and China – have threatened to take retaliatory action, while also calling for trade talks instead of tariffs, which could raise prices for consumers and harm the economies of all parties involved.
Trump said he imposed these tariffs on U.S. neighbors until the flow of illegal immigrants and fentanyl into the United States is stopped, although the cause of these issues is highly controversial and involves a number of complicating factors.
He has also said that these tariffs will help reduce the trade deficit with major partners and boost industrial production in the US.
Trump made good on his long-standing economic promise on Feb. 1, saying Washington would hit Canada and Mexico with 25 percent tariffs on all goods, although Canadian energy products would face a 10 percent tariff. The new tariffs also include a 10 percent tax on goods from China, in addition to those previously imposed.
Trump said tariffs on goods from the three countries would take effect on February 4.
He played down Canada's threat of retaliatory action, saying: "If they want to play the game, I have no problem with it. We can play the game as long as they want."
Trump wrote that, without trade with the U.S., "Canada will not be a stable country. Harsh, but true! Therefore, Canada should become our beloved 51st state. Much lower taxes and much better military protection for the people of Canada – AND NO TARIFFS!"
Canadian Prime Minister Justin Trudeau said retaliatory tariffs on imports from the United States will take effect on February 4.
Trudeau has announced his intention to step down as prime minister, and his Liberal party will elect a new leader on March 9. The election is expected to be held in the spring.
Canada intends to impose tariffs of 25 percent on imports from the United States, including beverages, cosmetics and paper.
Mexican President Claudia Sheinbaum said she would provide details on her country's response on February 3.
China has also said it will retaliate against Trump./REL (A2 Televizion)
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