To calculate its ‘reciprocal tariffs’, the Trump administration has opted for a crude formula with no basis in trade theory.

President Donald Trump introduced his “discounted reciprocal tariffs” on over 200 countries on April 2. Most countries ...

Behind Trump’s new tariffs is a goal that is as ambitious as it is unrealistic: eliminating the bilateral trade deficit with ...

An overall trade deficit occurs when the monetary value of a country’s imports exceeds that of its exports. Trump’s tariffs ...

Axios VisualsOne of the surprises out of the big tariffs announcement on April 2 was that the Trump administration used a surprisingly simplistic approach to calculating these much-hyped reciprocal ...

When U.S. President Donald Trump imposed sweeping new tariffs on imported goods on April 2, 2025—upending global trade and ...

Dive into the formula used by the U.S. to calculate its reciprocal tariff rates, and see what economists are saying.

Mr. Neiman was a Biden administration Treasury official who co-wrote trade-related academic research cited by the Trump White ...

Economists say the crude formula the White House used to calculate ... by the US trade representative ties those punitive taxes to the United States’ bilateral trade deficit in goods with ...

These vary by country, according to a formula based on individual trade deficits ... VW Pics/Getty The real reason for the deficit The formula used to calculate the reciprocal tariffs is highly ...