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Hi, I'm Javeria, and President Donald Trump's latest announcement has sent shockwaves through the global trade landscape, as he plans to impose new tariffs next week that will affect "everyone," according to his warning.President Donald Trump has announced plans to impose new tariffs next week, warning that they will affect "everyone." The move is part of Trump's broader trade agenda, which aims to reduce the US trade deficit and promote American economic dominance.

Trump's main targets are the automotive and steel industries, particularly in Europe, where he has criticized the European Union's value-added tax (VAT) for making American products more expensive to compete. The president has also expressed concerns about the trade deficit with China and has already imposed 10% tariffs on Chinese imports.

The new tariffs are expected to be announced at a press conference early next week, and Trump has hinted that they will be part of an "eye for an eye" system, where countries will be targeted individually rather than with blanket tariffs. This approach is a shift from Trump's previous proposal for a single universal import duty plan of 10-20%.

The impact of the tariffs on American consumers is likely to be significant, as importers may pass on the additional costs to consumers through higher prices. According to a JPMorgan study, foreign manufacturers may sometimes lower prices to help American buyers cope, but this is not always the case.

The tariffs are also expected to generate significant revenue for the US government, with estimates suggesting that they could bring in almost $110 billion in 2025 alone. However, the cumulative impact of the tariffs on American businesses over the next decade could be as high as $1.1 trillion, according to the Tax Foundation.

Overall, Trump's new tariffs are likely to have far-reaching consequences for the US economy and its trading partners. As the situation develops, it's essential to keep a close eye on the impact of the tariffs and the responses of affected countries .#1000CHEEMS&TSTOnBinance #BNBChainMeme #TRUMP #Cryptocurrency"