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Fortune
Fortune
Tristan Bove

Trump’s tariffs were supposed to close the trade deficit. The AI boom had other plans

President Donald Trump (Credit: Tasos Katopodis—Getty Images)

When President Donald Trump returned to office last year, he framed his tariff policy as a bid to bring manufacturing of strategic materials and equipment back to the U.S. 

More than a year later, his sweeping trade agenda has indeed forced a crackdown on imports, so much so that a single technological force has grown into the primary engine of the country’s trade economy. 

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