CNN —
The massive tariffs that President Donald Trump announced for dozens of trading partners Wednesday were pitched as “reciprocal,” simply aiming to match the tariffs other countries charge the United States.
But the methodology behind Trump’s attempt to rebalance trade has nothing to do with the tariff rate that foreign countries impose on the US.
The Trump administration instead used a grossly oversimplified calculation that it said factored in a broad set of issues such as Chinese investment, alleged currency manipulation and other countries’ regulations. The administration’s calculation divided a country’s trade deficit
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