National Economic Council director Kevin Hassett said in an interview with ABC News' "This Week" that the tariffs are not meant to start a trade war. "What happened was that we launched a drug war, not a trade war, and it was part of the negotiation to get Canada and Mexico to stop shipping fentanyl across our borders," Hassett said.

The leaders of both Canada and Mexico got on the phone with President Donald Trump this past week to seek solutions after he slapped tariffs on their countries, but China’s president appears unlikely

Trump said his plans for broader “reciprocal” tariffs will go into effect April 2, raising them to match what other countries assess.

President Donald Trump is dismissing business concerns over the uncertainty caused by his planned tariffs on a range of American trading partners and the prospect of higher prices, and isn’t ruling out the possibility of a recession this year.

President Trump said that Americans would be better off in the long run from his tariffs, which he said would prevent the country from being “ripped off.”