U.S. President Donald Trump stood in the Rose Garden of the White House on Wednesday brandishing a giant chart listing countries slapped with new "reciprocal" tariffs, which start at 10 per cent ...

However, financial journalist James Surowiecki noted the tariff rate for other nations Trump showed off is not related to a tariff American manufactures pay, but a calculation using the trade deficit.

That number was then divided in half for Trump’s “discount” for the final tariff percentage, experts said. “Before yesterday, 99% of trade economists had never seen a formula like this ...

After all, Australia has run trade deficits for decades, including with the US, and is one of the wealthiest countries in the world. The formula used to calculate the reciprocal tariffs is highly ...

effective April 5. Then, from April 9, 57 countries will face higher“reciprocal tariffs”. These vary by country, according to a formula based on individual trade deficits. On face value ...

For more than half, it imposed a flat reciprocal tariff of 10%. For the rest, it added an additional levy based on a basic formula.