Why Economists Are Horrified by Trump’s Tariff Math
When President Donald Trump initially announced his new tariffs in February, he proposed them as a “fair and reciprocal plan on trade.” And so it was assumed that these reciprocal tariffs, as they are known, would be equal in value to the taxes that foreign countries have set against U.S. goods.
In fact, the tariffs unveiled on Trump’s April 2 “Liberation Day” were slightly more complicated—and for some economists, more worrying.
Trump first slapped a 10% blanket tariff on all imports into the U.S., including from uninhabited islands, such as the Heard and McDonald islands, and on places with which the U.S. runs a surplus, such as the U.K.
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