Without the introduction of US tariffs, it would have no chance of “economic survival”, declared the country’s president, Donald Trump.<\/p>\n\n\n\n
“If other countries are allowed to use tariffs against us, and we are not allowed to quickly and nimbly counteract them with tariffs against them, our country does not have even a small chance of economic survival<\/strong>,” wrote<\/a> Trump on his social network Truth Social.<\/p>\n\n\n\n You may be interested in:<\/strong> http:\/\/Trump says he is following the situation in Venezuela “with great interest” and doesn’t want “its oil”<\/a><\/p>\n\n\n\n The president made<\/a> a similar statement on Sunday by asserting that the blocking of tariffs he imposed on numerous countries could lead to the economic collapse of the U.S.<\/p>\n\n\n\n Donald Trump announced<\/a> massive tariffs on April 2, imposing a 20% tax on the EU and a base levy of 10% on most of the rest of the world.<\/p>\n\n\n\n Faced with the collapse of financial markets<\/strong>, a week later, Trump suspended the higher rates for 90 days to facilitate trade agreement negotiations. During that time, he imposed<\/a> a reduced tariff of 10% on more than 75 countries<\/strong> that had approached US representatives to address the tariffs and had not taken any retaliatory measures.<\/p>\n\n\n\n Last week, the U.S. International Trade Court ruled<\/a> that most of the tariffs are illegal<\/strong>. According to the court decision, Trump exceeded his authority by imposing customs barriers on imports from countries that sell more to the U.S. than they buy.<\/p>\n\n\n\nWhat is happening?<\/h3>\n\n\n\n