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Tariffs fundamentally serve to bolster industries deemed unable to compete in a global market. Such protective measures are criticized as they ultimately lead to increased consumer costs. Yet, as Hanson argues, Trump's actions may not fit this mold. Instead of launching blanket tariffs out of a desire to revitalize fragile sectors, his strategy appears to be more nuanced and driven by differing geopolitical motivations.
Targeted Countries: A Diplomatic Perspective
Hansen points out the specific countries targeted by Trump's tariffs, including Venezuela, Colombia, China, the European Union (EU), Canada, and Mexico. This selection suggests a broader diplomatic goal rather than merely protecting domestic industries.