TARIFF TEST

By Econ70 | 04/03/2025 |

Tariff totals Trump 1.0 boosted tariffs from 1.2% to 3.2%. Yesterday, he boosted the average tariff on US imported goods to 24%, higher than the disastrous 1930 Smoot-Hawley Tariff Act, and international trade is proportionally 3x larger than then. The new tariffs are the ratio of our trade deficit in goods with a nation divided by imported goods from that nation, a meaningless calculation that totally ignores services. Politics masquerading as economics.

Posted in 70 Words, FEATURED

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