Sen. Mitch McConnell (R-Ky.) admitted on Sunday that Donald Trump’s tariff will raise prices for American consumers.
“It will drive the cost of everything up. In other words, it will be paid for by American consumers,” McConnell told CBS News’ Lesley Stahl in a 60 minutes interview. “I mean, why would you want to get in a fight with your allies over this?”
Trump on Saturday announced a decision to impose tariffs of 25% on imports from Mexico and Canada and 10% on imports from China. Canada and Mexico have already ordered retaliatory tariffs.
Trump also admitted on Sunday that American consumers could feel ‘some pain’ from tariffs as he threatens more import taxes.
“WILL THERE BE SOME PAIN? YES, MAYBE (AND MAYBE NOT!),” Trump said in a social media post. “BUT WE WILL MAKE AMERICA GREAT AGAIN, AND IT WILL ALL BE WORTH THE PRICE THAT MUST BE PAID.”
