By Jarrett Renshaw, Daphne Psaledakis and David Lawder WASHINGTON (Reuters) - President Donald Trump said on Sunday 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 U.S. President Donald Trump, and businesses and consumers in both countries questioned Sunday how the new trade war might affect them.

Trump’s move to impose new tariffs has bewildered the United States’ closest allies and trading partners, who have vowed to respond with levies of their own.