Trump proposes new tariffs to strengthen U.S. manufacturing

President Trump aims to strengthen U.S. manufacturing and reduce trade deficits by expanding tariffs. A recent survey shows many Americans believe globalization has harmed the economy, with a strong desire for a more robust manufacturing sector. The U.S. trade deficit has reached $918.4 billion, with foreign investors owning significantly more U.S. assets than vice versa. This imbalance has contributed to job losses and stagnant wages for many Americans, particularly those without college degrees. Trump's previous tariffs generated over $230 billion and reduced reliance on imported goods. He proposes new tariffs to further support domestic industries, enhance competitiveness, and address trade imbalances, despite potential short-term costs.