US President Donald Trump says he will suspend all foreign travel to the US from Europe for 30 days. The restrictions, which do not apply to Britain, will start Friday. The surprise action came after the World Health Organization declared COVID-19 a pandemic due to the rapid international spread of the coronavirus. READ: Airlines brace as WHO declares COVID-19 a pandemic. Airlines operating trans-Atlantic routes were already cutting capacity but the decision to completely suspend European travel will add further chaos to what is already a tumultuous situation. Australia is considering whether it should follow the US travel ban, a move that would require citizens and permanent residents returning from Europe to self isolate for 14 days. Australia already has extended travel bans in place for China, Iran, South Korea and Italy and Health Minister Greg Hunt said he had asked the Australian Health Protection Principal Committee to review Europe "out of an abundance of caution". In an address to the nation, Trump accused the European Union of failing to take the same precautions as US authorities and restrict travel China and other hotspots. "As a result, a large number of new clusters in the United States were seeded by travelers from Europe,'' he said. "After consulting with our top government health professionals, I have decided to take several strong but necessary actions to protect the health and wellbeing of all Americans. "To keep new cases from entering our shores, we will be suspending all travel from Europe to the United States for the next 30 days.  The new rules will go into effect Friday at midnight." Trump said the restriction would be adjusted subject to conditions on the ground and there would be exemptions for Americans who had undergone appropriate screening. He said the prohibitions would "not only apply to the tremendous amount of trade and cargo but various other things as we get approval". "Anything coming from Europe to the United States is what we are discussing,'' he said. At the same time, Trump said, the US was monitoring the situation in China and South Korea. "And, as their situation improves, we will re-evaluate the restrictions and warnings that are currently in place for a possible early opening,'' he said. The US State Department subsequently put out a travel advisory advising US citizens to reconsider travel abroad as a result of the global impact of COVID-19. The warning is one level below a "do not travel warning". "Many areas throughout the world are now experiencing COVID-19 outbreaks and taking action that may limit traveler mobility, including quarantines and border restrictions.  Even countries, jurisdictions, or areas where cases have not been reported may restrict travel without notice,'' the department said. Trump said he had met with leaders of the health insurance industry and they had agreed to waive all copayments for coronavirus treatments, extend insurance coverage to these treatments, and to prevent surprise medical billing. "We are cutting massive amounts of red tape to make antiviral therapies available in record time,'' he said. "These treatments will significantly reduce the impact and reach of the virus." Trump has also signed off a $US8.3 billion in funding to help the Centres for Disease Control and other government agencies fight the virus and said he would be asking Congress to extend financial relief to Americans affected by the virus. "Because of the economic policies that we have put into place over the last three years, we have the greatest economy anywhere in the world, by far,'' he said "Our banks and financial institutions are fully capitalized and incredibly strong.  Our unemployment is at a historic low.  This vast economic prosperity gives us flexibility, reserves, and resources to handle any threat that comes our way. "This is not a financial crisis, this is just a temporary moment of time that we will overcome together as a nation and as a world." The move comes as the NBA has decided to suspend the US basketball season due to the coronavirus crisis.   ,