on April 3, 2025, 5:24 pm, in reply to "These are not 'reciprical tariffs' as claimed"
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Clearly shown by that nonsensical figure for the Falkland Islands.
Rather they are calculated using a completely non-tariff related formula of US deficit over US imports per country (see below).
https://www.politico.eu/article/donald-trump-us-trade-tariff-math-is-crazy-wisdom-of-crowds-author/
The values on that board the perma-grinning Howard Lunatic (sorry Lutnick) was holding are nonsense in tariff terms.
For instance, the US chose/chooses to buy $27.3M of non-filleted frozen fish from the Falkland Island, I assume to help feed the over 340 million US citizens.
https://oec.world/en/profile/bilateral-country/usa/partner/flk
Now the population of roughly 3700 Falkland Islanders import from the US items such as electrical machinery, analysis equipment etc to the tune of 118k. Presumably it's top-grade stuff but there is a limit to the need.
Just as an aside, the population of the US increases by way more that that of the Falkland Islands total population... every day.
Of course there's going to be an imbalance.
The US buys coffee from South America because it would be difficult and pointless growing and cultivating sufficient coffee in the US. The US are building high tech, high value goods. 340 million Americans are buying coffee from an agricultural country because coffee is really cheap. 20 million coffee and banana growers are not buying top of the range Fords or 747s at the same value, are they?
Using this type of nonsensical (Lutnick) calculation has led to all sorts of ridiculously high anomalies with smaller countries like Lesotho, Cambodia, Laos, Vietnam and... Madagascar (see below).
https://www.bbc.com/news/articles/c1jxrnl9xe2o
And (Junta politics aside) why would you impose 45% tariffs on Myanmar now, just after that horrific earthquake???
I can only assume they don't care and just see the far-east Asian minnow countries as collateral damage in their trade war with Chai-nah.
*I am not an economist so parts of the above could be Bolleaux.
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Can't imagine there could be much else
Yes, I am THAT Jonas.
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