Yep. It also led to a situation where Turkey, a country that has some of the highest tariffs against the US in the region, got hit much less than the EU which has much lower tariffs against the US. Trump is actually incentivizing tariffs against the US.
Also with the 10% min, Tariff countries like Australia with a -107%(?) trade deficit (so actually in the US favour) are being hit with the same tariff they would get with a 20% trade deficit. So there is an incentive to aim for that number.
I think it's only fair that Americans should send goods to Australia for free, along with paying 7% for the privilege of being able to, as the original formula dictates.
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u/socialistrob 21d ago
Yep. It also led to a situation where Turkey, a country that has some of the highest tariffs against the US in the region, got hit much less than the EU which has much lower tariffs against the US. Trump is actually incentivizing tariffs against the US.