This is truly amazing. The Deputy White House Press Secretary is claiming that I'm wrong, and that the "tariff rates" on Trump's chart were calculated by "literally" measuring every country's tariffs and non-tariff trade barriers.
To prove it, he screenshots the formula the USTR says was used to calculate the reciprocal tariffs we imposed on other countries. And when you back out the Greek symbols, what is that formula? Trade deficit/imports - exactly what I said it was.
I don't know if the Deputy Press Secretary was misinformed, or is just being misleading. Either way, the Trump administration did not "literally calculate tariff and non tariff barriers" to determine the tariff rates it's imposing on other countries. As I said, it divided our trade deficit with a country by our imports with that country, and then multiplied by 0.5 (because Trump was being "lenient").
Oh, and if our trade deficit/imports with a country is less than 10%, or we have a trade surplus with a country, Trump slapped a flat 10% tariff on that country.
Just figured out where these fake tariff rates come from. They didn't actually calculate tariff rates + non-tariff barriers, as they say they did. Instead, for every country, they just took our trade deficit with that country and divided it by the country's exports to us.
So we have a $17.9 billion trade deficit with Indonesia. Its exports to us are $28 billion. $17.9/$28 = 64%, which Trump claims is the tariff rate Indonesia charges us. What extraordinary nonsense this is.
Lawmakers believe they can get a disaster aid package done by the end of the year — but disagreements over the finer details are emerging
from me and @ArisFolley
https://t.co/ykGhRfYKlz
This @NWSNewOrleans bulletin
A moment of clarity that hit like a freight train…
TFW you are locked into cataclysm… at nature’s mercy…
The next 6AM daily Gov’s Homeland Security call…
When 2 of our parishes in LA03 didn’t answer the roll call
#Katrina
"One recruiter said that a senior director even called them 'damaged goods.'"
Calif. tech companies see laid-off workers as 'table scraps,' recruiters say via @SFGate
https://t.co/VsZ7ibjs7y
“The labor movement is not anti-tech. It’s pro-worker.”
Check out our new op-ed from AFL-CIO President @LizShuler and Omidyar Network’s @MikeKubzansky on why unions are making sure workers have a seat at the table in how AI changes the future of work. https://t.co/p91d30TgLU
Continuing hazardous weather conditions may impact power restoration times. Learn about the steps PG&E takes to ensure power is safely restored.
https://t.co/9Og0rVGSLB
SEGURIDAD: Árboles, ramas y nieve pueden ocultar líneas eléctricas caídas. Asuma que son extremadamente peligrosas. No las toque ni intente moverlas; mantenga niños y animales alejados. Reporte las líneas caídas al 911 y PG&E al 1-800-743-5002 https://t.co/fDUxnshHhU
Chinese electric car maker XPeng Aeroht has unveiled a "flying car." The first model, a combination of car and flying drone, is expected to go on sale starting from 2025. 🚗🚁 #CES2024
Join us for a thought-provoking panel discussion on driving meaningful change in tech! Featuring Suzy's Strategic Advisor, Dhani Jones, at @thisisTheAList's THE SUITE. Hear challenges, success stories, and strategies for a more diverse tech industry. #DiversityInTech#CES2024
The AFL-CIO will be a part of the largest technological innovation showcase in the 🌎.
If you’re at #CES2024 take a moment away from the robots to join us & @ActSecJulieSu for a can’t-miss conversation on healthcare & how our future will protect the interests of working people.
A candid conversation with Chris Christie about the delirious state of the ’24 race: his path to Super Tuesday, his beef with Nikki Haley, whether Trump should go to prison, and more.
New, from @PeterHamby https://t.co/wl7JEuVXPV
NEW: The UAW likely just set a new US standard for job security.
In addition to pay hikes, workers also won:
1) Right to strike over factory closures
2) 2 years of healthcare and pay if layoffs do occur
https://t.co/ejZMeT2nzw