Aug. 7 (UPI) -- President Donald Trump's sweeping new tariffs on dozens of nations went into effect early Thursday following months of delays and threats from the American leader.
"IT"S MIDNIGHT!!! BILLIONS OF DOLLARS IN TARIFFS ARE NOW LOWING INTO THE UNITED STATES OF AMERICA," Trump said on his Truth Social platform announcing the levies were now in effect.
The American president has long relied on tariffs as a punishment, a negotiating tool and a measure to right what he views as negative trade imbalances that the United States has with other countries.
He has described these deficits as an "unusual and extraordinary threat" to the United States' national security and economy.
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