Article originally appeared on www.zerohedge.com.
Shortly after 4pm, when Trump unveiled the “much worse than expected” reciprocal tariffs, there was widespread confusion initially how exactly the Trump admin calculated the “Tariffs charged to the USA” number (shown below), which carried the odd subheader “Currency Manipulation and Trade Barriers.”
According to White House official, “the numbers [for tariffs by country] have been calculated by the Council of Economic Advisers … based on the concept that the trade deficit that we have with any given country is the sum of all trade practices, the sum of all cheating,” calling it “the most fair thing in the world.”
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