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.

An analyst warns of trade wars and rising costsas Canada, Mexico and China respond to Trump's tariffs:::: London, England:: File:: Thomas Sampson, Associate Professor of Economics, London School of Economics"I think it's fair to say that this is a lose-lose trade war.

Canada’s prime minister and Mexico’s president have ordered retaliatory tariffs against Americans, following through with their threats after U.S. Donald Trump sparked a trade war by imposing sweeping tariffs on imports from Canada,

President Trump has insisted that his new tariffs on America’s largest trading partners will not increase prices for Americans. But a review of how they work suggests that is not the case.

President Donald Trump is using a trio of executive orders to throw the world economy and his own goal of cutting inflation into turmoil.

Trump signed orders on Saturday evening, imposing 25% tariffs on imports from Mexico and Canada (though Canadian energy faces a lower tariff of 10%) and 10% tariffs on goods from China. Trump signed an Executive Order titled: “Imposing Duties to Address the Flow of Illicit Drugs Across Our Northern Border.