President Trump says Americans could feel 'some pain' from the emerging trade war he triggered with tariffs against Canada, Mexico and China.

President Donald Trump said on Sunday the sweeping tariffs that he has imposed on Mexico, Canada and China may cause "some pain" for Americans, as Wall Street and the largest U.S. trading partners signaled hope that the trade war would not last long.

American importers will pay a new 25 percent tax on goods from Canada and Mexico and a 10 percent levy on products from China.