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Donald Trump has announced that the US will withdraw its support for a United Nations treaty regulating the multibillion-dollar global arms trade.

Addressing the National Rifle Association (NRA) in Indianapolis, the president said he would revoke America’s status as a signatory of the arms trade treaty regulating conventional weapons including small arms, battle tanks, combat aircraft and warships.

“My administration will never ratify the UN arms trade treaty,” Trump said. “We’re taking our signature back. The United Nations will soon receive a formal notice that America is rejecting this treaty.”

Trump added: “Under my administration, we will never surrender American sovereignty to anyone. We will never allow foreign bureaucrats to trample on your second amendment freedom. I’m officially announcing today that the United States will be revoking the effect of America’s signature from this badly misguided treaty.”

The US signed the treaty in 2013 but never ratified it. The NRA has long claimed the treaty poses a threat to the second amendment. On Friday its members stood, applauded and chanted “USA! USA!” as Trump signed a letter to Congress halting the ratification process, then tossed his pen into the crowd.