The formula used by the Trump administration to calculate 'Liberation Day' reciprocal tariffs is based on trade deficits.

The president is using an unintelligible equation as a way to impose higher tariffs on the countries with which the United States has the largest trade deficit ...

President Donald Trump's "reciprocal" tariffs against trading partners raise import taxes on friends, foes, and uninhabited ...

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

Indeed, by definition, a country’s trade balance is governed entirely by the gap between its domestic saving and domestic investment. If a country’s domestic saving is greater than its ...