Economists say Trump's 'reciprocal' tariffs appear to be 'some other made-up measure based on a formulaic trade deficit calculation.'

President Donald Trump, wielding a poster-sized chart in the White House Rose Garden today, announced 10% tariffs on imports from most of the world's countries and additional tariffs against countries he described as acting against American interests. A longer list was posted to White House social media during Trump's speech.

As President Donald Trump announced historically high tariffs across the world this week, I expected a number of affected governments to rapidly and collectively fight back. Instead, with the exception of China and a few scattered reprisals from allies,