Seems Trump is trying to get rid of trade deficits with every country in order to not default on the national debt. They can keep lifting the debt ceiling, but that doesn't prevent eventually defaulting, it in fact brings it forward.
Im no expert economist, but tariffs are meant generally to protect a domestic industry. They are unlikely to create industries that have completely shut down. You can tariff Switzerland, but it wont create a high end watch industry in the US. Same for italian shoes and suits or french wine and cheese.
Its stupid with Australia, because we export the same things like wheat, but American guns, ammo and big pickup trucks are a popular choice. The retaliatory tariffs will make other options more attractive.

I keep an open mind on whether this will work for the US. Some industries like cabinet making and clothing I think could work. Keep in mind how many things were formerly made locally before globalisation, so it isn't impossible. Some other economic lubricant like drastically slashed income tax would be needed to prevent economic depression. A depression is better than complete collapse, Russia early 90s style. You have CEO's of companies like John Deere on salaries of 28 million, just one example without even looking at the whole board of directors. His Trumpness should focus on American Oligarchs to reverse to some degree the upward capital funnel. It wouldn't make a material difference to them.

Then you have his need to be in the spotlight and have a headline every day. To appear in his own word tough. The Houthis bear the brunt when he cant get a headline of a deal with Putin.
Given he went the extra mile for AIPAC with the universities, hes likely to go the extra mile for Israel and go to war with Iran

I discussed with a friend when he was re-elected that i believe he would need to manage transition to multipolar world and was aware of it. He spoke about BRICS being something they ought to be concerned about, wheras other politicians and MSM acted as ostriches on the elephant in the geopolitical room. My friend said he agreed Trumps weakness is Israel. He hasn't disappointed us.

 Im sure Trump has an IQ of 110 give or take 2. Im qualified and experienced in testing, not an uneducated guess. He is not more intelligent because he consistently always answers and explains things in oversimplistic terms. More smart people hiding it always slip up and 'geek out' getting more technical if subject moves away from safe topic.  Trump never ever does that.  I can also tell by his way of speech, speed, tonality and vocabulary. This is the key to his mass appeal, true relatability to the average stupid shlub. Coupled to his self aggrandizement though, its a dangerous trait, where full ramifications and complexities simply overload the individuals patience and tolerance, but will not be inclined to take advice, rather be the one to take full credit. He never says "we" re any policy, its always "me" or "I" that sustains the universe.