The introduction of new customs tariffs will allow the United States to quickly repay its state debt, US President Donald Trump said.
"Now it's our turn to prosper, and in so doing, use trillions and trillions of dollars to reduce our taxes and pay down our national debt, and it will all happen very quickly," Trump said.
In his words, the measures will "supercharge our domestic industrial base."
The US state debt currently exceeds $36.2 trillion. According to Congressional Budget Office’s estimates, it may exceed $50 trillion in 2034.
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