Trump spoke to reporters from the Oval Office about his decision, saying it was an “amazing day.” When asked if prices would rise as a result of the tariffs, he said that they “could go up somewhat” at first, but then “prices will also go down.”

Two weeks into his second term, President Donald Trump has launched the United States into a new trade war. He announced steep new tariffs on imports from Canada, Mexico and China — the three largest U.