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Trump Unveils Plan to Increase Tariffs, Sparking Potential Trade Conflicts

President Donald Trump has introduced a plan to increase US tariffs to match the tax rates of other countries, aiming for fairness and to level the playing field between US manufacturers and foreign competitors. This move could lead to retaliatory tariffs from other nations, causing potential trade conflicts. While Trump argues that the tariffs will improve fairness and raise revenue, there are concerns that they may cause inflation and hinder economic growth. The tariff increases will be customized for each country, and their revenues are expected to help balance the US's $1.9 trillion budget deficit. Analysts warn about possible stagflation.

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