Team Trump took the US trade deficit with each country, divided it by our exports, and called that a “tariff” being imposed by the trading partner. They then imposed “reciprocal tariffs” of 50% of that trade deficit, with a minimum of 10%. It is shockingly stupid from a regime known for shocking levels of stupidity.
Team Trump took the US trade deficit with each country, divided it by our exports, and called that a “tariff” being imposed by the trading partner. They then imposed “reciprocal tariffs” of 50% of that trade deficit, with a minimum of 10%. It is shockingly stupid from a regime known for shocking levels of stupidity.
Step 1: Think of some numbers.
Step 2: …
Step 3: Global economic supremacy.
…apparently.