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How Trump’s Team Used Trade Deficits to Calculate Tariff Rates

By Glenn Vaagen Apr 7, 2025 | 9:14 AM

President Trump’s administration calculated its raft of new tariffs primarily based on existing trade balances — a departure from pledges to match the tariff rates and other trade barriers from other countries. In a statement published last week to explain its methodology for tariffs that rocked the globe, the United States Trade Representative detailed a formula that divides a country’s trade su Continue reading…