Source: CounterPunch
by Dean Baker
“Suppose your doctor suddenly insisted that you needed to follow a strict diet and exercise regimen. He said he realized you had a serious problem when he divided your height by your birthday, and it came out way too high. You would probably decide that you need a new doctor. This is basically the story of Donald Trump’s new round of import taxes (tariffs) on our trading partners. Trump somehow decided that trade was bankrupting the country, even though we were creating jobs rapidly, the economy was growing at a strong pace, and inflation was slowing to normal rates when he took office. Trump’s response is to give the country the most massive tax increase in its history, possibly exceeding $1 trillion on an annual basis, which comes to $7,000 per household.” (04/07/25)
https://www.counterpunch.org/2025/04/07/dr-trumps-crazy-tariff-formula/