President Donald Trump said the sweeping tariffs that he has imposed on Mexico, Canada and China may cause "short term" pain for Americans as global markets reflected concerns the levies could undermine growth and reignite inflation.

Canada and Mexico ordered retaliatory tariffs on American goods in response to sweeping tariffs imposed by President Donald Trump, and businesses and consumers in both countries questioned Sunday how the new trade war might affect them.

The tariffs were also pushed through despite the terms agreed between the U.S., Canada and Mexico in the U.S.-Canada-Mexico Agreement, negotiated by Trump in his first term, after he pledged to get rid of the North American Free Trade Act (NAFTA) negotiated by President Bill Clinton.