Trump’s New Tariffs Criticized for Over-Simplifying Trade Deficit Solutions, Say Experts

The U.S. has imposed new tariffs on over 200 countries, focusing on the imbalance in goods trade with each nation, according to The Wall Street Journal. Over half of the countries face a 10% reciprocal tariff, while others have tariffs based on the 2024 U.S. goods-trade deficit with each nation. President Trump has called for a reduction in trade barriers and a significant increase in U.S. exports. Economists argue this formula is flawed, as it overlooks services trade and doesn’t account for economic conditions in less wealthy nations. Experts emphasize the importance of carefully analyzing tariff impacts rather than imposing blanket measures. For more coverage on tariffs and how they impact your portfolio, visit benzinga.com.