Editorial: Le Monde

• Trump has revealed details of the protectionist arsenal that he intends to use to 'return wealth to America'.
• A minimum tariff of 10% will be imposed on all exports to the United States, with additional tariffs depending on each country's trade surplus.
• The formulation of these tariffs is based on a subjective and arbitrary calculation, mixing a variety of parameters.
• These tariffs create uncertainty for business operations and investments.
• The tariffs may backfire, as it is likely that US consumers will end up paying more for goods.
• Trump's decision may provoke retaliation from other countries, and could produce a chain reaction of unpredictable consequences.

Conclusion: The abrupt turn of US policy towards protectionism led by Trump appears risky, potentially destabilizing, and could have harmful secondary and tertiary effects.

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