This is straight up disinformation.
We don't have tarrifs against USA, tarrifs and trade deficits are not the same thing
This is straight up disinformation.
We don't have tarrifs against USA, tarrifs and trade deficits are not the same thing
That 'disinformation' is from JP Morgan and the World Trade Organization.
But it would not be the first time either one of them was wrong! lol
Regardless, its not wrong. The massive trade imbalance the U.S. has is mostly from currency manipulation, but that's another topic. The reality is most countries protect their industries with Tariffs - which is what the graph shows.
Tariffs help CREATE trad deficits - because they create trade imbalance. Again, Trump is trying to reduce or eliminate all tariffs so we have free trade. Of course, as mentioned, this will not change the currency manipulation problem - but that's next....
Here is a list of tariffs by country - as you can clearly see most countries have higher tariffs than the U.S. - which is what the chart shows. https://en.wikipedia.org/wiki/List_of_countries_by_tariff_rate