Based on 2023 data the average tariff levied on US Goods was 4.6% compared to the average tariff the US charged our trading partners of 2.2%. The expectation was that President Trump would increase the US tariff modestly above the 4.6% rate charged by other countries on US exports. Instead, the Administration used a formula to calculate the amount of tariff the US would charge other countries that has almost no relationship to either their applied US tariffs or anything else related to trade volumes of each country. This example illustrates how the Administration arrived at the 34%...
