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 The proposed tariffs by former President Donald Trump represent a significant shift in U.S. trade policy, aimed primarily at addressing trade imbalances and promoting domestic industries. Tariffs are essentially taxes imposed on imported goods, which can influence consumer prices and market dynamics. By increasing the cost of foreign products, tariffs encourage consumers to purchase domestically produced items, thus supporting local businesses. However, this approach comes with both intended goals and unintended consequences that can ripple through the economy. 

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