Speaking to reporters after he flew back to Washington Sunday evening from a weekend in Florida, Trump said he was "speaking with Prime Minister (Justin) Trudeau tomorrow morning, and I'm also speaking with Mexico tomorrow morning."
"I don't expect anything very dramatic," he added.
Trump has also hit China with a 10-percent tariff in addition to levies already in place.
A fervent supporter of tariffs, Trump had always maintained that their impact would be borne by foreign exporters, without being passed on to American consumers, contradicting the opinion of a broad range of experts.
Earlier Sunday he acknowledged, in a series of messages on his Truth Social network, that Americans may feel economic "pain" from his tariffs, but argued it would be "worth the price" to secure US interests.
China, Mexico and Canada are the top three US trade partners and all have vowed to retaliate when the tariffs take effect Tuesday.
"Will there be some pain? Yes, maybe (and maybe not!)" Trump wrote Sunday morning in all-caps on his Truth Social media platform.
"But we will Make America Great Again, and it will all be worth the price that must be paid."
Analysts expect the trade war to slow US growth and increase prices, at least in the short term, something the president had resisted acknowledging after frustration over rising costs was seen as a major factor in his 2024 election win.
Seeking to limit a spike in fuel prices, Trump has put the levy on energy imports from Canada at only 10 percent.
The president has cited illegal immigration and the trafficking of the deadly opioid fentanyl as reasons for the "emergency" measures.
But on Sunday he also expressed general outrage at trade deficits, which he has long viewed as signs of unfair treatment against the United States.
"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," he wrote.
The tariffs announcements capped an extraordinary second week of Trump's new term, with the president facing the worst US aviation disaster in years -- even as his administration moved to drastically overhaul the government in actions decried by critics as illegal.
- '51st state' -
In a separate social media post, Trump took particular aim at Canada, repeating his call for America's northern neighbor to become a US state.
Claiming the United States pays "hundreds of billions of dollars to SUBSIDIZE Canada," Trump said that "without this massive subsidy, Canada ceases to exist as a viable Country."
"Therefore, Canada should become our Cherished 51st State," he said, reiterating the expansionist threat against one of his country's closest allies.
The US Census Bureau says the 2024 trade deficit in goods with Canada was $55 billion.
Canadian backlash was swift, with video posted to social media showing fans at a Toronto Raptors game Sunday booing during the US national anthem.
Trudeau vowed Saturday to hit back with 25 percent levies on select American goods worth Can$155 billion (US$106.6 billion), with a first round on Tuesday followed by a second one in three weeks.
Leaders of several Canadian provinces have already announced retaliatory actions as well, such as the immediate halt of US liquor purchases.
The White House has not publicly announced what actions could end the tariffs.
"It's hard to know what more we can do, but we're obviously open to any other suggestions that come our way," Canada's ambassador to the United States Kirsten Hillman told ABC News on Sunday.
- Federal overhaul -
Mexican President Claudia Sheinbaum said she, also, was awaiting Trump's response to her proposal for dialogue.
She said she had directed her economy minister to "implement Plan B," which includes unspecified "tariff and non-tariff measures," promising to detail Monday the steps she intends to take.
Trump said Sunday he also planned to hit the European Union with tariffs "pretty soon," to which the EU said earlier it would "respond firmly."
The drastic trade actions follow similarly sharp efforts by Trump's administration to quickly overhaul the federal government in his first two weeks.
Trump's close ally Elon Musk, the world's wealthiest person, and his so-called Department of Government Efficiency were also pursuing efforts that were not fully clear, including reported attempts to probe federal payment and e-mail systems.
The tumult in the federal government coincided with the collision of an army helicopter and an airliner that killed 67 people in the US capital.
Trump, addressing the crash on Thursday as aviation authorities began their formal investigation, baselessly placed the blame on diversity programs.
Autos, electronics: What will Trump's tariffs impact?
Washington (AFP) Feb 2, 2025 -
US President Donald Trump's sweeping tariffs on Canada and Mexico are set to roil supply chains for products ranging from automobiles to avocados -- with industries girding for cost increases.
US imports from both countries covered nearly $900 billion in goods as of 2023, and supply lines between the three North American neighbors -- who share a trade agreement -- are deeply integrated. Fresh tariffs would pose complications for businesses with a footprint across one or more countries.
Analysts expect Trump's 25 percent across-the-board tariffs on Canada and Mexico would hit the automobile and electronics sectors hard.
While Canadian energy exports have a lower 10 percent rate, this still marks an uptick as Washington previously did not impose tariffs on Canadian oil imports.
Mexico and Canada also account for significant US agriculture imports, meaning the duties could add to prices of popular foods like avocados and tomatoes.
- Canada: energy, autos -
Nearly 80 percent of Canadian goods exports go to the United States, amounting to some $410 billion in value, according to Statistics Canada.
The levies will hit Canadian vehicle and energy industries hard, given that they represent over 40 percent of Canada's exports to the United States.
The energy exports involve mainly crude oil and bitumen, alongside natural gas.
The auto sector in Ontario -- the nation's most populous province -- faces particular challenges.
This is because "various parts cross the border multiple times before ending up in a finished product," said Robert Kavcic, at Bank of Montreal, in a research note.
The United States imports construction materials from Canada, too, meaning tariffs could drive up housing costs.
More than 70 percent of imports of two key materials homebuilders need -- softwood lumber and gypsum -- come from Canada and Mexico, said National Association of Home Builders chairman Carl Harris.
"Tariffs on lumber and other building materials increase the cost of construction and discourage new development," he said.
- Mexico: autos, electronics -
Mexico's exports to the United States represented 84 percent of the goods it sold to the world last year, according to its National Institute of Statistics.
This amounts to over $510 billion.
The auto industry spanning vehicles and parts, alongside the electronics and machines sector, will likely see the greatest impact.
They send around half of all their production to the United States, analysts from Capital Economics said.
The latest 25 percent tariffs would also affect sectors like food.
Mexico supplied 63 percent of US vegetable imports and nearly half of US fruit and nut imports in 2023, according to the US Department of Agriculture.
More than 80 percent of US avocados come from Mexico -- meaning higher import costs could push up prices of items like guacamole.
- Basis for tariffs -
Trump invoked emergency economic powers in imposing tariffs on Canada, Mexico and China, arguing they had failed to stem the flow of illegal immigrants and drugs into the United States.
Chinese goods faced an added 10 percent tariff under the latest announcement.
But analysts have said that US tariffs on Canadian and Mexican imports could be incompatible with the United States-Mexico-Canada Agreement (USMCA), a trade deal Trump inked during his first presidential term.
Some anticipated that Trump's posturing could be a way for Washington to gain an upper hand ahead of a 2026 deadline to review the USMCA.
- Potential impact -
Economists warned that heavy US tariffs -- and retaliatory measures -- could tip Canada and Mexico's economies into recession, while the United States would face risks of a shallow downturn too.
"The tariffs send a clear message, reinforcing Trump's America First stance while using trade as a geopolitical tool," EY chief economist Gregory Daco told AFP.
Markets will view this as heightened political uncertainty while investors brace for inflationary pressures and supply chain disruptions, he said.
Mexican President Claudia Sheinbaum has already announced that her country would impose retaliatory tariffs.
"Mexico and Canada could challenge the move under USMCA, while China may counter with targeted restrictions," Daco said.
A bigger concern, he said, is that the situation could escalate into a prolonged and broader conflict.
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