Americans will feel short term pain from tariffs: Trump

US President Donald Trump says Americans will experience short-term pain from tariffs for long-term benefits. #US #Canada #Mexico #China

Transcript

00:00To our top story and U.S. President Donald Trump has acknowledged Americans will be impacted

00:05by his tariffs but insists it is worth the price.

00:09Sweeping taxes on imports from Canada and China are due to come into effect on Tuesday

00:16but a last-minute deal was struck with Mexico earlier today as the two countries agreed

00:21to take a pause as they discuss security and trade.

00:26Nick Harper reports from Washington.

00:29Short-term pain for long-term gain. That's the message from the U.S. President who admits

00:35prices are about to go up as a result of his tariffs.

00:38We may have short-term some little pain and people understand that but long-term the United

00:45States has been ripped off by virtually every country in the world. We have deficits with

00:51almost every country, not every country but almost and we're going to change it.

00:5625% tariffs start Tuesday on goods from Canada, 10% on Canadian oil and a blanket 10% duty

01:04on all goods from China. The President suggesting those will remain until the countries make

01:09changes.

01:10They have to balance out their trade, number one. They've got to stop people from pouring

01:11into our country and we've stopped it. They haven't stopped it, we've stopped it. They

01:12have to stop people from pouring in and we have to stop fentanyl and that includes China.

01:26That's the message from the U.S. President.