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Trump admits prices are going up even more


Trump admits prices are going up even more

President Donald Trump said that tariffs on "external products" will go into effect starting next month -- a move that critics say could increase food prices for consumers in the U.S.

In a Truth Social post on Monday, Trump told farmers to prepare themselves to make "a lot of agricultural product to be sold" within the United States starting on April 2.

"To the Great Farmers of the United States: Get ready to start making a lot of agricultural product to be sold INSIDE of the United States. Tariffs will go on external product on April 2nd," Trump wrote.

"Have fun!" he added.

It is not immediately clear whether he was referring to additional tariffs on agricultural products. CBS News reported that Trump was referring to his plan to implement "reciprocal tariffs," meaning that the import taxes charged by the United States would match those of other countries.

Critics, including The Lincoln Project, suggested that tariffs on agricultural products could increase costs for both farmers and Americans at the grocery store.

"America, 'have fun' paying more for your food," The Lincoln Project wrote on social media platform X.

Billy Binion, a reporter for Reason magazine, suggested that the move could hinder sales for farmers.

"Donald Trump ran on lowering grocery prices. Meanwhile, this is a great formula for crippling a lot of farmers' sales -- when they already don't make very much money -- while increasing grocery prices for all of us. 'Have fun!'" he wrote on X.

And Politico's Meredith Lee Hill noted that the "U.S. agriculture sector is deeply reliant on exporting farm products because there is not enough demand in the U.S."

Trump said Tuesday that 25% tariffs on imports from Canada and Mexico will start Tuesday.

"Tomorrow -- tariffs 25% on Canada and 25% on Mexico. And that'll start," Trump told reporters in the Roosevelt Room. Trump has said the tariffs are to force the two U.S. neighbors to step up their fight against fentanyl trafficking into the U.S.

Trump provided a one-month delay in February as both countries promised concessions. But Trump said Monday that there was "no room left for Mexico or for Canada" to avoid the steep new tariffs.

U.S. stock markets moved sharply lower after Trump's comments.

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