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Here's how Trump calculated tariffs. The math has baffled economists
"There's so much wrong with this approach that it's hard to know where to start," said a Nobel laureate.
President Donald Trump walks to the Oval Office after signing an executive order during an event to announce new tariffs in the Rose Garden of the White House, Wednesday, April 2, 2025, in Washington. Handed a chart in the White House Rose Garden on Wednesday (Apr 2), US President Donald Trump presented the rationale for how his administration would impose reciprocal tariffs on partners ranging from major powers like China and Europe to the smallest nations. To most economists, Trump's obsession with deficits dismisses the intricacies of the US economy, the world's biggest, where a company like Apple manufactures 90 per cent of its products abroad, but delivers huge wealth domestically.
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