Comments by "Darlene" (@darlene2709) on "CNBC Television"
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@christianmathew398 "Not only are tariffs not 'reciprocal,' they're based on simple trade deficit formula. The tariffs were calculated using a formula that takes how much a given country sells to the U.S. (exports), subtracts how much that country buys from the U.S. (imports) to calculate the trade deficit, and then divides the trade deficit by that country's exports to the U.S.
"This formula is insane," Dmitry Grozoubinski, a trade consultant based in Geneva and author of Why Politicians Lie About Trade ... and What You Need to Know About It.
"What they're basically saying is ... what we are going to do is assume that if you are selling a lot more to the U.S. than you are buying from the U.S., you must be doing something unfair," he said.
Countries that buy more American products than they sell to the U.S. weren't spared, either. The tariffs, which affect more than 100 countries, are set at a baseline 10 per cent, even for countries such as the U.K., which has a trade surplus with the U.S.
Calling these "reciprocal" tariffs just isn't accurate, Grozoubinski said, as they're not connected to any tariffs placed by other countries." USA Today
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