Financial journalist James Surowiecki noted the tariff rate for other nations Trump showed off is not related to a tariff American manufactures pay, but a calculation using the trade deficit.
Financial journalist James Surowiecki noted the tariff rate for other nations Trump showed off is not related to a tariff American manufactures pay, but a calculation using the trade deficit.
His logic is: I walk into a store and buy a hat for 10$ and sell them a shoe for 7$. This means the store ripped me off by 3$. To counter this, I will add a tarriff of (3/10)/2 = 15% to all business I do with this store so they dont dare sell me anything in the future.
Ah, so not only does he not understand what a tariff is, he doesn’t even really understand the concept of money, or math, or know the difference between a hat and a shoe.
Sounds about right