Trump declares state of emergency in U.S. over economic situation

U.S. President Donald Trump declared National Emergency due to the economic situation and trade deficit. This is stated in the documentation distributed by the White House, TASS informed.

"Today, President Donald J. Trump declared that foreign trade and economic practices have created a national emergency, and his order imposes responsive tariffs to strengthen the international economic position of the United States and protect American workers,"-stated in the document. It is noted, that large and persistent annual U.S. goods trade deficits have led to the hollowing out of a manufacturing base; resulted in a lack of incentive to increase advanced domestic manufacturing capacity; undermined critical supply chains; and rendered our defense-industrial base dependent on foreign adversaries."

”President Trump refuses to let the United States be taken advantage of [by other countries] and believes that tariffs are necessary to ensure fair trade, protect American workers, and reduce the trade deficit – this is an emergency,” – stated in the White House.

On April 2, American President Donald Trump announced that his country would set the minimum rate of customs duties on imported goods at 10%. For individual states, he has defined individualized tariffs. In addition, the U.S. Administration imposes 25% tariffs on all imported cars from April 3.

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