AFAIK, most low added-value products the US net exports are food. Also AFAIK, Canada mostly doesn’t buy those, but the countries that do buy them won’t just stop.

Well, yes, wages tend to decrease on that shift.

At least Brazil has tariffs large than that already. I doubt he will decrease them.

The effects of widespread tariffs is well known.

You will lose industry that makes high added-value products, and increase the production of products with low added-value. (Most people call this “deindustrialization”.)

Tariffs mostly don’t impact the overall trade balance, so there’s no reason to expect that one to change.

But Tesla stock is 75% hype

It has been adjusted recently, but it was around 99% (P/E of 100 times what other car companies have), so it can’t be lower than some 95% now.