New Delhi: US President Donald Trump on Sunday made bold claims over the future of the US economy, saying that while there may be “pain” for some time, the price will be “worth it” in order to secure the nation’s interests. He was referring to the retaliatory tariffs that Canada said it would impose on the US. Mexican President Claudia Sheinbaum also announced that she has instructed her economy minister to implement both tariff and non-tariff measures to protect her country’s interests.
In a series of posts on his social media platform, Truth Social, Trump reaffirmed his stance on the economic policies that he believes will lead America into what he refers to as “The Golden Age”.
“The “Tariff Lobby,” headed by the Globalist, and always wrong, Wall Street Journal, is working hard to justify Countries like Canada, Mexico, China, and too many others to name, continue the decades long RIPOFF OF AMERICA, both with regard to TRADE, CRIME, AND POISONOUS DRUGS that are allowed to so freely flow into AMERICA. THOSE DAYS ARE OVER!” read his post.
Trump has long criticised trade imbalances
Trump has long criticised trade imbalances, foreign subsidies, and illegal immigration. He again targeted countries like Canada, Mexico, and China, accusing them of exploiting the US while downplaying the costs of drug imports and trade deficits. “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,” his further wrote.
While he acknowledged that there will be pain, but added that it was necessary to make America great again. “Why should the United States lose TRILLIONS OF DOLLARS IN SUBSIDIZING OTHER COUNTRIES, and why should these other countries pay a small fraction of the cost of what USA citizens pay for Drugs and Pharmaceuticals, as an example? THIS WILL BE THE GOLDEN AGE OF AMERICA! Will there be some pain? Yes, maybe — and maybe not! But we will make America great again, and it will all be worth the price that must be paid. We are a country that is now being run with common sense — and the results will be spectacular!” his post read further.
Trump on Saturday imposed a 25% tariff on imports from Mexico, Canada, and China. He justified the tariffs, claiming they are necessary to curb illegal immigration, fight drug trafficking, and rebalance trade relations. He also noted the US owes a massive national debt and is facing economic challenges, including rising inflation and supply chain disruptions.
Trump again offers Canada to become 51st state
In another post Trump again suggested that Canada should become the “51st state” to remove tariffs and create a closer economic relationship. “We pay hundreds of Billions of Dollars to SUBSIDIZE Canada. Why? There is no reason. 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. Without this massive subsidy, 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!” he wrote.
While the tariffs are set to hit key industries in the affected countries, the White House has emphasised the importance of holding foreign governments accountable for trade imbalances and narcotics trafficking, including the growing issue of fentanyl coming from China.
