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... When US President Donald Trump announced the details of his wave of tariffs to a packed Rose Garden at the White House on April 2, he broke into a riff on the meaning of the word "reciprocal."

"Reciprocal tariffs on countries throughout the world," he said. "Reciprocal. That means: they do it to us and we do it to them. Very simple. Can't get any simpler than that."

Trump announced two main sets of tariffs that day " a 10% levy on practically all US imports from all countries, and then an additional set of "reciprocal tariffs" on various countries, ranging in level according to a much-derided government formula almost exclusively focused on trade deficits.
US President Donald Trump holds a chart as he delivers remarks on reciprocal tariffs during an event in the Rose Garden US President Donald Trump holds a chart as he delivers remarks on reciprocal tariffs during an event in the
The US President and his economic team have repeatedly insisted that the reciprocal tariffs are simply returning the same barriers that US exporters face when selling to the same countries.

Flawed formula

However, a range of economists, banks and financial institutions have pointed out that the tariffs are not reciprocal and that the formula Trump's team used to calculate them makes little economic sense.

"The formula he used is nonsense," Bill Reinsch, a senior economics adviser with the Center for Strategic and International Studies (CSIS), told DW. ...