"Let’s start with the biggest #mistake. The office said it calculated its reciprocal #tariffs at a level that would theoretically eliminate trade deficits with “each of our trading partners,” one by one. Is that a reasonable goal?
It is not. Trade imbalances between two countries can emerge for many reasons that have nothing to do with #protectionism. Americans spend more on clothing made in Sri Lanka than Sri Lankans spend on American pharmaceuticals and gas turbines. So what? That pattern reflects differences in natural resources, comparative advantage and development levels. The deficit numbers don’t suggest, let alone prove, unfair #competition."
The New York Times · Opinion | Why Trump’s Tariff Math Is a Joke
