Declaration of a National Emergency: Addressing Trade Imbalances

Empowered by the Constitution and U.S. laws, such as the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.), the National Emergencies Act (50 U.S.C. 1601 et seq.), Section 604 of the Trade Act of 1974, as well as Section 301 of Title 3 of the U.S. Code, I, DONALD J. TRUMP, President of the United States, find that certain underlying conditions pose a significant and unusual threat to the nation’s security and economy.

The threat emerges from the lack of reciprocity in our bilateral trade agreements, varying tariff and non-tariff barriers, and economic strategies of our trade partners that depress domestic wages and consumption. These issues are evidenced by the consistently significant U.S. goods trade deficits. The root of this threat lies significantly outside our country, in the domestic economic approaches of major trade partners and the structural imbalances within the global trade system. In response to this profound challenge, I formally declare a national emergency.