"As an indication of the mad-king dynamic at play, the new plan imposes a 20 percent tariff on the European Union in retaliation against the bloc’s value-added tax system—even though the VAT applies equally to imports and domestic goods and is therefore not a trade barrier at all.”
-Jonathan Chait
-Jonathan Chait
Comments
https://www.theatlantic.com/politics/archive/2025/04/trump-tariffs-political-capital/682274/
Had to use quotes because math this untethered to reality shouldn't be dignified by being considered a real calculation.