Trump acknowledges potential unrest over tariffs

05/03/2025 Argaam
US President Donald Trump

US President Donald Trump

US President Donald Trump admitted that the newly imposed tariffs may cause minor disruptions to the US economy, while defending his push to reshape it.

 

In a speech to Congress on Tuesday evening, he said that the tariffs are intended to strengthen the US economy, and progress is already being made. The President added that the process will move quickly and may cause some disruption, but the administration is satisfied with the approach.

 

The comments came just hours after Wall Street declined for a second consecutive day, following the implementation of Trump's 25% tariffs on Canada and Mexico.

 

However, US Commerce Secretary Howard Lutnick stated after the market closed that Trump is expected to announce tariff agreements with Canada and Mexico on Wednesday.

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