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3 days agoHonestly they probably plugged it into Grok and asked it to spit out the list of countries to tariff.
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Cake day: June 16th, 2023
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It’s probably dumber than you think why they weren’t on there. The formula they used to come up with the countries tarrifs rate is based simply on trade deficit calculations. So if you aren’t exporting/importing from those countries they wouldn’t be included. It doesn’t even matter if there was a trade surplus.
For example, take the figures for China:
- Goods trade deficit: $291.9bn
- Total goods imports: $438.9bn
- 291.9/438.9 = 0.67, or 67%
- And halved = 34%
Sources:
https://www.ft.com/content/e025d7e6-512d-4e82-9c25-7900b94ac153
I’ve seen a new talking point popping up that he’s crashing the market on purpose to refi US debt and force the fed to drop interest rates…