Of course, here's a brief explanation of Trump's tariffs:
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What are Trump's tariffs?
During his second term, US President Donald Trump launched an aggressive trade policy aimed at reducing reliance on foreign imports and stimulating domestic manufacturing in the United States. A major part of this policy involved imposing tariffs (taxes on imported goods).
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The most prominent measures taken by Trump:
1. 10% comprehensive customs tariff:
Trump imposed a 10% tax on all goods imported into the US, citing the Emergency Economic Powers Act.
2. Definitions of countries with a trade surplus:
Additional duties (from 11% to 50%) were imposed on 57 countries, including China (34%) and the European Union (20%).
3. “Trade Liberation Day” (April 2):
Trump announced these tariffs under the slogan of reducing foreign dependence and "liberalizing" the American economy.
4. Fees on specific sectors:
Imposing a 25% tariff on steel, aluminum, and automobile imports from all countries.
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Economic and legal consequences:
Price hikes: These tariffs are expected to lead to a 7.1% price increase in the US.
Economic slowdown: Institutions such as the Federal Reserve and the Organization for Economic Cooperation and Development have warned of a possible economic recession.
Lawsuits: Several lawsuits have been filed against the government, alleging that Trump exceeded his legal authority.
International reactions: Affected countries, such as China and European countries, responded by imposing retaliatory tariffs on US products.
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Political background:
These policies are part of Trump's vision of what he calls "national economics," whereby America produces what it consumes rather than imports. However, many economists warn that this policy could cause more harm than good, both for consumers and for global trade relations.
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Would you like me to explain a particular part in more detail?