There isn’t any good economic theory to support Trump’s reciprocal tariff plan. The formula appears to be merely a justification to put tariffs on all countries, but higher ones on countries that we import a lot from.
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Jeremy Horpedahl and Phillip W. Magness
While the Trump administration had already rolled out tariff increases against our largest trading partners—Canada, Mexico, and China—several weeks ago (and then delayed some of them), we finally got a picture of President Trump’s big tariff plans on April 2. And those plans are worse than most economists probably imagined.
