The main Russian information agencies noted the introduction customs duties by Donald Trump. Their attention, however, focused not on the influence of the planet economy, but on 1 conviction concerning the situation in the United States.
"US president Donald Trump has introduced a state of emergency in the country due to the economical situation and the trade deficit" - said Russian news agency TASS. As added, this is what the White home has written about.
SEE: The planet power responds to customs. "Trade War No Winners"
In a akin vein, the information on the duties was provided by the Prokremlian agency Ria Novosti. ‘Trump has declared a state of emergency in the United States due to trade imbalances" – reported.
Donald Trump's decision on customs. The White home has issued a statement
Meanwhile, the authoritative website of the White home gives the following information about US tariffs: "President Donald J. Trump announcedthat abroad exchange and economical practices caused a national emergency (National Emergency), and his order caused introducing appropriate duties to strengthen the global economical position of the United States and the protection of American workers.”
As added, "large and persistent yearly shortages in commodity trade have led to the US production base being hollowed out, caused a deficiency of motivation to increase advanced home production capacity and undermined critical supply chains".
"President Trump cites its powers under the global Exceptional economical Rights Act 1977 (IEEPA) to address the emergency situation in the country caused by a large and persistent trade deficit” says the U.S. Administration.
The United States imposes duties. “This is our declaration of economical independence”
On Tuesday, Donald Trump announced introduction of customs duties on goods from all countriesWith which the United States has a commercial relationship. – This is 1 of the most crucial days, in my opinion, in American history. This. our declaration of economical independence – he said during the ceremony in the Rose Garden, announcing one more time that this day will pass to U.S. past as the “day of liberation”.
Trump, just before signing the common customs regulation, argued that its decisions will revive the national economy and reduce the price of many goods for American consumers, and the country will become rich again. For decades our country has been robbed, looted, raped. Ragged by nations close and distant, both friends and enemies," he stated.
Under the regulation, 25% duties were imposed on all cars imported into the United States.
SEE: The European Union is responding to Donald Trump's movement. "We're finishing the answer"
Furthermore, Trump announced that the common duties would be was half of the full work rates and trade barriers of another countries. For China the tariffs will be 34 percent, the European Union will be 20 percent and Japan will be 24 percent. Minimum work for all countries it will be 10%.
According to his strategists' calculations, the US budget is expected to increase by 600 billion dollars a year as a consequence of customs duties. "These tariffs will supply us with economical growth that we have never seen before, and watching it will be something truly special," Trump said during his speech.
