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Tengrinews.kz – U.S. President Donald Trump has declared a state of emergency in the country due to the threat posed by the trade balance deficit to national security.
While announcing tariffs on all imported goods, Trump stated that the source of this threat lies in the domestic economic policies of key U.S. trade partners, as well as structural imbalances in the global trade system.
"Hereby, I declare a national emergency in connection with this threat," he said.
According to media reports, the U.S. trade deficit has developed due to the gap between imports and exports. Official data shows that last year the country imported $1.2 trillion more in goods than it exported.
As a reminder, on April 2, President Trump announced the introduction of "reciprocal" tariffs on imports from other countries. The base minimum rate will be 10 percent, but for each country, the tariff will be adjusted to equal half the rate they charge U.S. companies for exporting American goods. Trump believes this will be a “declaration of economic independence” for the U.S. and will help redirect “trillions and trillions of dollars” to pay off the national debt.
