President Donald Trump on Sunday defended his decision to impose broad tariffs on Canada, Mexico and China, acknowledging they may cause “some pain” but claiming it “will all be worth the price,” as the import taxes have been widely condemned by business groups and economists who warn they’ll raise prices for American consumers.

Trump’s move to impose new tariffs has bewildered the United States’ closest allies and trading partners, who have vowed to respond with levies of their own.

Tariffs are slamming the stock market but there’s still hope that the Trump administration's threatened levies are a negotiating tactic. Expect settlements with Mexico and Canada but Chinese imports to get more costly,