President Trump warns the US of difficult times.
President Donald Trump said that the U.S. is facing a difficult period regarding tariffs, but China has lost more.
According to RIA Novosti on April 6, US President Donald Trump said that the US is facing a difficult period due to its tariff policy, but the final outcome will be historic.
"This is an economic revolution and we will win, hold on, it won't be easy but the end result will be historic," President Trump wrote on the social media platform Truth Social.
At the same time, Trump said that the US would not suffer as much damage as China – a country that, according to him, would lose much more.
"China has been affected far more severely than the United States, and that gap is not small at all," Trump added.
U.S. President Donald Trump signed an executive order on April 2nd to apply reciprocal tariffs on imports from other countries. The base tariff will be 10%, while most countries will face higher rates. The U.S. Trade Representative's office explained that these tariffs are calculated based on the U.S. trade deficit with a given country, thus balancing rather than reflecting the deficit.
US Treasury Secretary Scott Bessent said the new tariffs on imports from China are added to existing measures and total up to 54%. Trump said this would be a "declaration of economic independence" for the US and would help use "trillions of dollars" to pay down the national debt.
In response, the Chinese State Council has imposed an additional 34% tariff on all US goods. The resolution will take effect on April 10th.