The United States is expected to gain $1 trillion in annual revenue from the massive new tariffs. This was stated by Donald Trump, informs CNBC.
“We’re going to impose tariffs. We’ve already implemented them. It’s not a question of whether we will – we’re going to continue them. And these tariffs will give us $1 trillion next year. On top of that, thousands of companies are going to move back to the US.” – he emphasized.
Trump separately emphasized that one of the worst situations is trade with China. He assured that the measures implemented are aimed at overcoming the trade imbalance.
“I’ve spoken to many leaders – European, Asian, all over the world. They’re dying to do a deal, but I said ‘we won’t have a deficit with your country’. To me, a deficit is a loss. We’ll have a surplus or, at worst, we’ll break even. But China is the worst of the bunch because the deficit is so big and unsustainable.” – said Trump.
He also accused the European Union of insufficient imports of American products, including cars and pharmaceuticals. According to him, until the situation changes, the US will not hold negotiations on softening tariffs.
“We buy their cars – Mercedes, Volkswagen, BMW. And we buy millions of cars from them. They don’t buy our cars, they don’t buy our farm products. They don’t buy anything. Europe treated us very badly.” – explained Trump.
We will remind that on April 2, US President Donald Trump announced the introduction of a customs tax on imported goods and raw materials from most countries of the world. In response, the European Commission is considering the possibility of a complete closure of European markets for American goods.
