April 8, 2025 · Economy, Trade & Fiscal Policy

Confirmed

Economists Find Math Error Inflating Trump's 'Liberation Day' Tariff Formula

In April 2025, economists including analysts at the American Enterprise Institute identified an error in the formula the Trump administration used to calculate country-specific tariff rates. The formula assumed an...

April 2, 2025 · Economy, Trade & Fiscal Policy

Confirmed

Liberation Day Tariffs Use a Crude Formula to Reshape Global Trade

Trump announced a universal 10 percent tariff along with substantially higher country-specific tariff rates, calculated largely from countries' bilateral trade deficits with the United States rather than from those...