President Trump warns America of difficult times
President Donald Trump said the United States was facing tough times on tariffs, but China had more to lose.
According to RIA Novosti on April 6, US President Donald Trump said that the US is facing difficult times due to the tariff policy, but the final result 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 network Truth Social.
At the same time, Mr. Trump said, the US did not suffer as much damage as China - a country that he said would lose more.
"China is much more affected than the United States, and that gap is not even small," Mr. Trump added.
US President Donald Trump signed an executive order on April 2 to impose “reciprocal” tariffs on imports from other countries. The base tariff will be 10%, while most countries will face higher tariffs. The Office of the US Trade Representative explained that the tariffs are calculated based on the US trade deficit with a given country, so there will be a balance rather than a deficit.
The new tariffs on Chinese imports will be added to existing measures and total 54%, US Treasury Secretary Scott Bessent said. Mr Trump said it would be a “declaration of economic independence” for the US and would help pay down “trillions of dollars” of the national debt.
In response, China's State Council imposed an additional 34% tariff on all US goods. The resolution will take effect on April 10.
