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

Trump said he would speak with the leaders of Canada and Mexico on Monday, both of which have announced retaliatory duties, but he dismissed the possibility that they would change his decision. “I do not expect anything dramatic. They owe us a lot of money, and I’m confident they’ll pay,” he said.

He stated that duties would undoubtedly be imposed on the European Union, but did not specify when. Critics argue that Trump’s plan to put 25% tariffs on Canada and Mexico, as well as 10% taxes on China, will hinder global growth and raise American prices. However, the president stated that they are necessary to combat immigration and drug trafficking while also boosting domestic industry.

People recognize that we may experience short-term suffering. However, in the long run, nearly every country in the globe has taken advantage of the United States,” he remarked.