Trump tariffs are set to generate $1-2 trillion extra revenue, according to US gov. That's extra taxes paid by US importers and US consumers to their government.
Latest tax's cuts are estimated an extra $5 trillion burden on US debt, do the maths.
Also debt interest just went up by 10% which is why the tariffs were "paused" (despite claims of unnamed 75 countries rushing to kiss his ass as he so elegantly puts it).
Last time US-EU FTA was set up, TTIP, it had been tanked by... Trump. It had been 5 years in the making, these things don't materialize themselves in a matter of weeks. Plus countries currently in a FTA with US have just been imposed 10% tariff, despite imposing 0 tariff themselves, what is there to negotiate, who would sign such agreement which clearly holds no value? Probably poor countries relying so much on US exports (Vietnam, Cambodia, Zimbabwe) or politically and militarily dependent on the US (Taiwan).
BTW, the Canada tariffs he complains about... he's the one who negotiated and signed them. The after quota huge tariffs on dairy products (200-300%) have never ever been activated, despite huge trade between US and Canada, they've never been close to reach the quota.
Most countries apply 0-5% tariff to US, nothing like what was presented which was only calculated from trade deficit but Canada, but EU and China have just imposed higher tariffs in retaliation.
Triple whammy: more taxes, higher prices and more debt. That's the long version of Philip's gun meme
Re-industrializing is a worthy objective, can't see how tariff would achieve that. Can't see either what's wrong with having trade deficit with smaller/poorer countries not how anyone can expect tariff or any other way to equalize trade with Canada (12% of US population,7% of US GDP) or any of the "worst offenders" : Vietnam (pop. 30%, GDP 2%), Cambodia (pop. 5%, GDP 0.17%), Lesotho (pop. 0.6%, GDP 0.01%), Zimbabwe (pop. 5%, GDP 0.12%), Madagascar (pop. 9%, GDP 0.05%), Falkland islands (pop. 0.001%, GDP 0.001%), St Pierre et Miquelon (pop. 0.002%, GDP 0.001%