Trump's aggressive tariff strategy aims to boost American manufacturing by imposing substantial duties on imports, notably proposing a 20% tariff on all imports and a 60% duty on Chinese goods.
He has labeled the European Union as a 'mini China', emphasizing the imbalance in trade where the EU exports much more to the US than it imports.
The implications of Trump's tariff tactics could backfire, leading to retaliatory tariffs from the EU, inflating prices for American consumers and potentially destabilizing the US economy.
Trump's economic strategy revolves around a belief in tackling trade deficits through high tariffs, which he views as a way to restore American manufacturing jobs.
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