How will Trump's "equal tariffs" be implemented?

Tax factors, high-value added tax countries such as Ireland, Germany, the UK, Belgium, and the Netherlands will also face higher risks. From an industry perspective, industries with high subsidies and frequently mentioned by Trump, such as semiconductor, automotive, and chemical industries, are most likely to be affected by additional tariffs.This article is reprinted from the "Xue Tao Macro Notes" WeChat public account, author: Song Xuetao, Li Mengying; GMTEight editor: Chen Xiaoyi.