It is said that Trump will

It is said that Trump will also impose tariffs on steel and aluminum products from all countries of origin. It is said that POSCO and Hyundai Steel, and Hyundai Motor's calculation method will be complicated.

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Aside from the likes and dislikes of Trump, the impact of his tariff policy on our country and individuals' wallet situations will be left behind for now... There is a great personal curiosity about how it will work economically by taking a step back.

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Income tax and VAT are by far the items that have a significant impact on tax revenues in developing countries. Corporate tax is then followed. The United States is a key currency country and consumption accounts for an overwhelming portion of the overall economy (that is, the proportion of the manufacturing industry is small), and if universal tariffs are imposed widely and boldly on most countries, this will eventually have an effect similar to VAT.

A sudden increase in VAT in a country with a large proportion of domestic demand leads to an economic downturn, as shown in the Japanese example. Consumption dies. Instead, since it is a country with a large consumption share, it is certain that there will be an increase in tax revenue due to tariffs.

Which of the effects of (income/value tax) tax cuts or (tariff) tax increases will prevail?

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In addition, Trump (Elon Musk) is foreshadowing a drastic reduction in government employees. Government spending accounts for a significant portion of a country's GDP, and it will also have a knock-on effect of reducing consumption of government employees who lost their jobs.

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Considering the action-reaction, smashing the economy would prevent the effects of tariffs on inflation. Where does this huge experiment go?