Who are the people coming up with these specific rates?
How are they modeling this system?
Who are the people coming up with these specific rates?
How are they modeling this system?
(sorry, this is a BBC live news ticker link):
https://www.bbc.com/news/live/c1dr7vy39eet?post=asset%3A3a34...
And a picture of the chart they had showing the per-country tariffs:
https://www.bbc.com/news/live/c1dr7vy39eet?post=asset%3A7f78...
Trump took the trade surplus the US has with those countries and calcuated the percentage from that.
For example, in 2024, the total value of US trade in goods with China was approximately $582.4 billion, comprising $143.5 billion in exports and $438.9 billion in imports. [0]
(438.9-143.5)/438.9=67.3%
[0] https://ustr.gov/countries-regions/china-mongolia-taiwan/peo...
It's an incredibly simplistic calculation that definitely doesn't equate to the country's tariff rate.