Trump declares a state of emergency in the US to protect the economy

U.S. President Donald Trump declares a national emergency to protect sovereignty and enhance national and economic security.

This is reported on the website of the White House.

In the Rose Garden near the White House, Trump stated that foreign trade and economic practices have created a national emergency. His decree introduces appropriate tariffs to improve the international economic position of the U.S. and protect American workers.

A significant and prolonged annual U.S. goods trade deficit has led to the depletion of the country’s manufacturing base, lack of incentives to build up advanced domestic manufacturing capacities, undermining critical supply chains, and dependency of the U.S. defense industrial base on foreign adversaries.

President Trump relies on his powers under the International Emergency Economic Powers Act of 1977 (IEEPA) to address the national emergency caused by the significant and prolonged trade deficit. It was caused by the lack of reciprocity in U.S. trade relations and other harmful policies such as currency manipulation and excessive value-added taxes (VAT) imposed by other countries.

Given the situation and utilizing his IEEPA powers, President Trump will impose a 10% tariff on all countries. The decision will take effect on April 5, 2025, at 12:01 a.m. Eastern Time.

Additionally, Trump will impose individual reciprocal tariff hikes for countries with which the U.S. has the largest trade deficit. All other countries will continue to be subject to the initial base tariff of 10%. This will take effect on April 9, 2025, at 12:01 a.m. Eastern Time.

"These tariffs will remain in place until President Trump determines that the threat posed by the trade deficit and non-reciprocity is eliminated or mitigated," the statement read.

It is also emphasized that President Trump refuses to allow the United States to be taken advantage of and believes that tariffs are necessary to ensure fair trade, protect American workers, and reduce the trade deficit - this is an emergency.

"Research has repeatedly shown that tariffs can be an effective tool to reduce or eliminate threats that harm U.S. national security and achieve economic and strategic goals," noted the White House fact sheet.