Economic Protectionism and Tariff Policies: Trump’s emphasis on tariffs, including proposed universal tariffs and potential selective tariffs on trade surplus countries like ROK and Japan, could lead to trade wars and heightened economic uncertainty. Some countries may benefit temporarily from U.S. tariffs on China, but those with trade surplus will soon face pressure as well. Trump’s approach to trade emphasizes short-term bilateral concessions, such as increased purchases of U.S. goods, rather than long-term structural agreements.
