‘Willing sycophants’ came up with simplistic formula that has thrown global economy into disarray

cross-posted from: https://beehaw.org/post/19241243

Waving a big chart as a prop in the White House Rose Garden, Donald Trump suggested his new tariff plan was simple: “Reciprocal – that means they do it to us, and we do it to them. Very simple. Can’t get simpler than that.”

Perhaps a bit too simple. The method used to calculate the most important numbers in international trade, politics and economics has left some of the world’s leading experts shocked.

For each country, the White House looked up its trade in goods deficit for 2024, then divided that by the total value of imports. Trump, to be “kind”, said he would, however, offer a discount, so halved that figure. The calculation was even distilled into a formula.

  • Optional@lemmy.world
    101·
    1 day ago

    “[It is] quite an extraordinary calculation after months of work behind the scenes,” said Jim Reid, the global head of macro research at Deutsche Bank. “[It] didn’t add much confidence on there being an in-depth strategic implementation plan.”

    lol. First of all Deutsche Bank, how are you still operating, and secondly it’s your fucking fault the demented rapist is even here (thanks to Justice Kennedy’s son). Thirdly, anyone who thinks a trump administration effort is going to have an “in-depth strategic plan” is smoking crack. (Those of you arguing ‘project 2025’ remember that came from outside the administration)