Summary
Donald Trump imposed sweeping “reciprocal” tariffs on dozens of nations, including a 104% levy on Chinese goods, claiming to boost U.S. manufacturing.
These tariffs, calculated by dubious trade deficit formulas, hit major trading partners like the EU, Japan, and South Korea.
Economists warn of rising inflation, recession risks, and potential stagflation. JPMorgan estimates a 60% chance of global recession, while U.S. consumers may face $2,100 in added yearly costs.
Despite retaliation threats, Trump refuses to back down. Businesses and allies express concern over economic damage and trade instability.
While making the calculation look complex enough that the unwashed masses won’t question it
Essentially they are doing the math equivalent of using big words to sound smart.