US President Donald Trump formally announced tariffs on China, Canada and Mexico, the three largest sources of US imports, on the 1st, sparking fears of a trade war. On the 2nd local time, Trump admitted that Americans "may" feel the economic "pain" due to the tariffs, but at the same time claimed that it is the "price" of making America great again "worth it". "The United States has huge deficits with Canada, Mexico and China (and almost all countries!) and debts of 36 trillion dollars. We will no longer be a'stupid country '." Trump wrote on his social media platform Truth Social on the 2nd, "Why is the United States losing trillions of dollars to subsidize other countries, and why are these other countries paying only a fraction of the cost of drugs for American citizens?" (Observer Network)