The absurdity of Donald Trump’s tariff announcements on April 2nd has stirred a wave of mockery, particularly for their dubious calculations. These tariffs, born from a warped view of bilateral trade deficits as unfairness, involve odd maths—taking the deficit as a percentage of imports from a country and halving it. This peculiar method is compounded by tariffs seemingly calculated for countries based on their internet domain names, and shockingly, the figures are extracted from a single year of data. Here, we present the five most outrageous tariffs that showcase the sheer silliness of this approach.
The reaction to Trump’s tariffs has not been light-hearted; China retaliated strongly, sending American markets into a downward spiral. As stock markets shake like leaves in a tempest, analysts question the durability of the dollar, which typically strengthens in adversity. However, at this moment, the greenback finds itself teetering on the edge, raising concerns about the broader financial implications for the economy. As the waves of market reactions ripple across Asia and beyond, it becomes clear that the effects of these tariffs extend well beyond American borders, casting a long shadow on global financial health.
Donald Trump’s tariffs have faced ridicule for their questionable calculations based on bilateral trade deficits viewed as unfairness. The calculations also show bizarre traits, such as being linked to nations by their internet domains and relying on data from just one year. The five most outrageous tariffs are outlined, highlighting their nonsensical nature and international economic fallout.
In conclusion, Trump’s tariff announcements are not merely a footnote in trade policy but a headline of ridiculousness. With their roots in flawed maths and peculiar metrics, they highlight the challenges facing US trade relations not just with China, but around the globe. The ensuing economic tumult underscores a complex interplay of local and global market sentiments, emphasising the depths of absurdity mapped out by these tariffs.
Original Source: www.economist.com
