President Donald Trump’s large tariffs introduced on dozens of countries had been pitched as “reciprocal,” matching what different international locations cost the US greenback for greenback, even taking into consideration non-tariff limitations like value-added taxes and different such measures. However the precise calculation the Trump administration used isn’t reciprocal in any respect. Matching international locations’ tariffs greenback for greenback is an extremely tough activity, involving poring over every nation’s tariff schedule and matching a posh array of merchandise, every of which has a distinct cost for any variants. As an alternative, the Trump administration used fairly a easy calculation: the nation’s commerce deficit divided by its exports to the US instances 1/2. That’s it. #CNN #Information
