Reported about 21 hours ago
President Trump and his administration introduced a reciprocal tariff formula, primarily based on the trade surplus each country has with the US, using import and export data from 2024. This formula, touted as a 50% discount on tariffs by Trump, is expected to push US tariff rates to the highest levels in over a century. The methodology departs from traditional economic views on trade deficits, which generally consider a broader range of factors. Critics have raised questions about the simplicity and efficacy of this approach.
Source: YAHOO