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Aren’t the tariffs that the US is imposing half of what other countries have? Or was that fake news from the admin?
by linotype 2y ago
Aren’t the tariffs that the US is imposing half of what other countries have? Or was that fake news from the admin?
- vitaflo 2y agoThey aren’t the tariffs other countries are imposing, they are basically the trade deficit ratio instead. A country could have a 0% tariff on American goods but if Americans had a trade deficit with that country they would have been slapped with a tariff.
- linotype 2y agoAh thanks for the explanation. Definitely a ridiculous metric to go off of to determine tariffs.
- rsynnott 2y agoFakest of fake news; no developed country (except a few weird microstates) has effective tariffs higher than about 3%. Bizarrely, he based it on _trade deficits_. Today, only two countries have effective tariffs rates >20% (Bermuda and the Cayman Islands), though it will be three next week. (Based on the World Bank metric; WTO uses a slightly different metric and says there are three; Bahamas, Sudan and Iran.)