Quotes
If you tax our goods, we'll tax yours. If you don't open your market, neither will we."
FOR United States President Donald Trump, reciprocity means
The way in which we calculate the tariffs is using a sophisticated quantitative model that needs to go through a supercomputer to speed up what the tariff rates are. I do not think that that's what they have done."
Pau Pujolas, professor of economics at McMaster University, previously told Newsweek
The formula published by the Office of the U.S. Trade Representative has two additional terms in the denominator that just so happen to cancel out: (1) the elasticity of import demand with respect to import prices, ε, and (2) the elasticity of import prices with respect to tariffs, φ,
the authors wrotePresident Trump's Tariff Formula Makes No Economic Sense. It's Also Based on an Error."
The new analysis was titled.jpg)
OMG they applied their stupid f***ing formula incorrectly?!?
Polling analyst Nate Silver shared the report on Friday on X, formerly Twitter, and wroteThis is a pretty seismic and significant shift in the way that we trade with every country on earth,
she added
The market has spoken" in rejecting Trump's tariffs
Beijing on Saturday said
We need a rational, well-thought-out and fair trade policy. Trump's across-the-board tariffs are not the way to do it. We do not need a blanket and arbitrary sales tax on imported goods which will raise prices on products that the American people desperately need. We should be doing everything we can to lower prices, not make them incredibly higher."
Senator Bernie Sanders, a Vermont independent who caucuses with the Democratic Party, in a statement emailed to Newsweek on Friday
I'm getting all kinds of reactions from businesses, farmers in Wisconsin that are highly concerned about what's happening. Those are the facts. All I can really do is report the reality to the administration, let them know how these actions are impacting my constituents, and it'll be pretty much up to President Trump and his administration to determine exactly how long they're going to go down this road."
Senator Ron Johnson, a Wisconsin Republican, told Fox Business on FridayThese tariffs restore fair and reciprocal trade and level the playing field for American workers and innovators. The President understands that FREE trade ONLY works when it's FAIR!"
House Speaker Mike Johnson, a Louisiana Republican, on X, formerly Twitter, on WednesdayThis shift is being lead by the rollout of new tariffs, which have quickly become the dominant issue in swing voter conversations. A combined 38 percent of negative sentiment is now tied to tariffs, split between general concern (25 percent) and a fear personal financial impact (13 percent). Posts are increasingly focused on how tariffs might raise prices, disrupt local economies, and threaten job security—moving the conversation from political positioning to real-world consequences.
It continuedAfter holding steady for a month at -12, Trump's net sentiment among swing voters has now dropped to -15—a sign that recent developments are beginning to cut through,
the report saidBig business is not worried about the Tariffs, because they know they are here to stay, but they are focused on the BIG, BEAUTIFUL DEAL, which will SUPERCHARGE our Economy,
Trump wrote
Their mistake is that they base the elasticity on the response of retail prices to tariffs, as opposed to import prices as they should have done,
the scholars wrote
As we work to address the new trading terms with our business partners, we are taking some short-term actions, including a shipment pause in April, as we develop our mid- to longer-term plans,
JLR said in a statement
Every country is calling us. … ... If we would have asked these countries to do us a favor, they would have said no. Now they will do anything for us,
he told reporters on Air Force One
This hurts the vulnerable and the poor,
UNCTAD Secretary General Rebeca Grynspan said in a statementThe trade and tariff war started by the U.S. against the world is unprovoked and unjustified,
he continuedWe should avoid launching a policy of counter-tariffs that could be damaging for everyone and especially for us,
he said, addingThis practice of the U.S. is not in line with international trade rules, undermines China's legitimate rights and interests, and is a typical unilateral bullying practice."
The Chinese finance ministry said on Friday