Trump called tariffs the only way to eliminate the US trade deficit

The only way to eliminate the United States' trade deficit with other countries is through tariffs. This was announced on April 7 by US President Donald Trump on his Truth Social network.

"We have a huge financial deficit with China, the European Union and many others. The only way to solve this problem is through tariffs, which are now bringing tens of billions of dollars to the United States," he said.

According to the American leader, the duties are already in effect, and this is a "beautiful sight."

Trump also criticized the previous US president Joe Biden for the growing trade deficit during his presidency.

"Someday people will realize that tariffs for the United States of America are a very wonderful thing!" he concluded.

Trade Warrior: How new US duties will affect the global economy

Donald Trump announced the introduction of fees for all products supplied to the United States.

On April 2, Trump announced large-scale measures: base tariffs of 10% are being introduced for all products supplied to the United States. For the EU, this figure has been raised to 20%, and for China — to 34%. In his speech, the president called April 2 the day when Americans will become rich again.

The next day, Georgy Ostapkovich, director of the HSE Center for Economic Studies, said that the introduction of US duties on imported goods could trigger a chain reaction that could lead to a global financial crisis.