Trump's tariffs send shivers across world markets as economists warn of recession risk
apnews.com
The U.S. president's move has provoked dismay and calls for further negotiations to make trade rules fairer.

Among the reciprocal tariff levels Trump announced:

China: 34%

European Union: 20%

South Korea: 25%

India: 26%

Vietnam: 46%

Taiwan: 32%

Japan: 24%

Thailand: 36%

Switzerland: 31%

Indonesia: 32%

Malaysia: 24%

Cambodia: 49%

United Kingdom: 10%

Rest of the world: 10%

  • learningduck@programming.devEnglish
    27·
    2 days ago

    Figured out where these fake tariff rates come from that Trump is claiming. They didn’t actually calculate tariff rates + non-tariff barriers, as they say they did. Instead, for every country, they just took our trade deficit with that country and divided it by the country’s exports to us.

    So we have a $17.9 billion trade deficit with Indonesia. Its exports to us are $28 billion. $17.9/$28 = 64%, which Trump claims is the tariff rate Indonesia charges us. What extraordinary nonsense this is.

    Copied from twitter from someone who’s suffering insomnia right now.

    Figured out where these fake tariff rates come from that Trump is claiming. They didn’t actually calculate tariff rates + non-tariff barriers, as they say they did. Instead, for every country, they just took our trade deficit with that country and divided it by the country’s exports to us.

    So we have a $17.9 billion trade deficit with Indonesia. Its exports to us are $28 billion. $17.9/$28 = 64%, which Trump claims is the tariff rate Indonesia charges us. What extraordinary nonsense this is.

    https://www.reddit.com/r/Thailand/comments/1jq32od/new_import_tariff_to_usa/ml4328d

    Source of these trade deficit numbers is in https://www.reddit.com/r/Thailand/s/TKZ68gLs6z