Tariffs and China: Trump remains firm
Donald Trump is reaffirming his 2016 positions on tariffs and trade wars, particularly with China. He is proposing new tariffs of up to 60% on Chinese products and suggesting a uniform 10% tariff on all foreign goods. This protectionist approach, he believes, is validated by the Biden administration's maintenance of numerous tariffs on Chinese products.
Taiwan and foreign policy
On Taiwan, Trump seems to be planning a major change in US policy. He says that if US troops continue to protect Taiwan, the island should compensate the US for that protection. He also stresses the importance of bringing microchip manufacturing back to the US.
Oil production and deregulation in the US
Trump also discussed the need to increase domestic oil production and reduce regulations to facilitate this increase. He expresses a desire to lower the corporate tax rate further, following the cuts already made by his administration in 2017.
Economic implications and budget deficit
Although Trump is proposing an overall economic plan, the details remain vague, particularly as regards the impact on the budget deficit.
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