Donald Trump says tariff 'pain' will be 'worth the price'
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On Saturday, Trump finally signed off on threatened 25-percent tariffs on neighboring Mexico and Canada — despite sharing a free trade pact — and hit China with a 10-percent tariff in addition to already enacted levies.
The president had vowed since before his inauguration to take such action, claiming the countries were not doing enough to halt illegal immigration and the trafficking of the deadly opioid fentanyl into the United States.
In imposing the tariffs, which are set to begin Tuesday, Trump invoked the International Emergency Economic Powers Act.
The move provoked immediate vows of retaliation from all three countries, while analysts warned that the ensuing trade war would likely slow US growth and raise consumer prices over the short term.
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