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Showing Original Post only (View all)Journalist posits where "Tariffs Charged to the USA" numbers came from [View all]
(Noted this a.m. that economists, including Krugman, have been puzzling over where the administration came up with the chart column "Tariffs Charged to the USA" calculations because they don't make sense. Surowiecki believes he figured it out)Journalist James Surowiecki observed Wednesday evening that the president's sweeping worldwide tariffs seemed to be based on a simplistic formula, which takes the U.S. trade deficit with an individual nation and divides that number by its exports to the U.S.
"Just figured out where these fake tariff rates come from," Surowiecki posted on X. "They didn't actually calculate tariff rates + non-tariff barriers, as they say they did. Instead, for every country, they just took our trade deficit with that country and divided it by the country's exports to us. So we have a $17.9 billion trade deficit with Indonesia. Its exports to us are $28 billion. $17.9/$28 = 64%, which Trump claims is the tariff rate Indonesia charges us. What extraordinary nonsense this is."
White House aide Kush Desia disputed that claim, citing a press release by the office of the U.S. trade representative that claims the tariff rates relied on a "basic approach," and provided a formula using Greek symbols, but Surowiecki argued that was the same formula that he had devised.
"This is truly amazing," Surowiecki posted. "The Deputy White House Press Secretary is claiming that I'm wrong, and that the 'tariff rates' on Trump's chart were calculated by 'literally' measuring every country's tariffs and non-tariff trade barriers. To prove it, he screenshots the formula the USTR says was used to calculate the reciprocal tariffs we imposed on other countries. And when you back out the Greek symbols, what is that formula? Trade deficit/imports - exactly what I said it was."
https://www.msn.com/en-us/news/politics/truly-amazing-journalist-slaps-down-white-house-aide-s-attempted-fact-check/ar-AA1CdG1K
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Journalist posits where "Tariffs Charged to the USA" numbers came from [View all]
allegorical oracle
Apr 3
OP
Thanks for posting those. I tried but kept setting off a virus alert each time. nt
allegorical oracle
Apr 3
#33
Somebody's now got the title for their book about Trump's second term: Extraordinary Nonsense
tanyev
Apr 3
#9
Folks, these are the guys that sat in the back two rows of the classroom, giggling and throwing spit balls
ashredux
Apr 3
#24
I am believing the journalist because any sophisticated computation formula is beyond the brains of any of this admin.
Jit423
Apr 3
#29
Trump's Tariff Formula Slammed As 'Fake' And 'Incredibly Stupid' By Experts
LetMyPeopleVote
Apr 3
#31
MaddowBlogThe Trump White House keeps trying (and failing) to make mathematical formulas work
LetMyPeopleVote
Apr 4
#36