Within an hour of President Donald Trump’s announcement that he would impose a global tariff minimum of 10% and punish the “worst offenders” with an additional tariff margin based on the “reciprocal” tariff the offender in question levied on our exports, the unwashed masses realized the White House had quite literally made its “reciprocal” tariffs up. Trump bragged how “kind” he was for only charging 50% of the tariff levied by such offenders on our exports, but U.S. Trade Rep. Jamieson Greer explained exactly how Trump was calculating what that reciprocal tariff actually was and — spoiler alert — it had nothing to do with the actual tariff levied by the offending country.
“Reciprocal tariffs are calculated as the tariff rate necessary to balance bilateral trade
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