President Trump said that his tariff policy would level the economic playing field and benefit the United States. He made this statement in a post on Truth Social on April 13.
"NOBODY is getting “off the hook” for the unfair Trade Balances," said Donald Trump. "we need to make products in the United States. we will not be held hostage by other Countries, especially hostile trading Nations like China."
On April 2, the White House announced that President Trump had declared a national emergency and imposed numerous tariffs on trading partners to "strengthen the international economic position of the United States." According to the announcement, all tariffs would begin at 10%, with trade-deficit countries such as China facing higher, reciprocal tariffs.
The White House issued a memo from Trump on April 11 clarifying the effects of the newly imposed tariffs, notably excluding several products, including semiconductors.
In an interview with Fox Business, White House National Economic Council Director Kevin Hassett said the United States was receiving "very good, amazing offers" in response to the tariffs. Hassett addressed concerns about the economic impact, stating that he does not expect a recession in 2025.
Donald J. Trump is serving as both the 45th and 47th President of the United States.
