A day after levying steep new tariffs on Mexico, Canada and China, President Trump acknowledged what economists, members of Congress and even some of his own aides — in their previous lives — have been saying all along: Americans may find themselves paying the costs.

After promising during his election campaign to put import taxes back at the center of US economic policy during his second term as president, President Donald Trump took a dramatic step in that direction on Feb.

Mr Trump’s announcement of the new duties ought to erase any doubts about his resolve to take a hard line on trade, heedless of warnings from businesses, diplomats and economists about the potential fallout.

Canada, Mexico and China account for more than a third of the products brought into the United States. Tariffs could lead to higher prices for consumers.