How will Trump's "equal tariffs" be implemented?
On February 13, 2025, Trump signed the "Fair and Reciprocal Plan" memorandum, announcing a new global tariff plan. According to this plan, the United States will launch equivalent tariff measures based on the tariff and trade barrier levels of its trading partners towards the United States.
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.
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