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Trump plans his tariff 'liberation day' with more targeted push

President Donald Trump's coming wave of tariffs is poised to be more targeted than the barrage he has occasionally threatened, aides and allies say, a potential relief for markets gripped by
The article from MSN discusses former President Donald Trump's plans to implement a new tariff strategy if he were to return to office. Trump aims to replace income taxes with tariffs, a policy he refers to as "Tariff Liberation Day." This strategy would involve imposing higher tariffs on countries like China, which he accuses of unfair trade practices, while potentially offering tariff relief to allies like Japan and South Korea. Trump's proposal includes a "universal baseline tariff" on most imported goods, with rates varying based on how countries treat the U.S. in trade. This approach is intended to protect American industries, reduce the trade deficit, and fund government operations without relying on income taxes. Critics argue that such a policy could lead to higher prices for consumers, retaliation from trade partners, and might not generate the revenue Trump anticipates.

Read the Full Bloomberg Article at:
[ https://www.msn.com/en-us/politics/government/trump-plans-his-tariff-liberation-day-with-more-targeted-push/ar-AA1Bs7v0 ]