Tracy Alloway

There's a 30% reciprocal tariff imposed on Nehru, which is this tiny island in the South Pacific that mostly exports fish and pig meat and some phosphates, but not that much anymore, to the rest of the world. Even if you think this isn't necessarily an economic tool, it's a political tool, it's a tool of diplomacy, maybe. The question is, what exactly do we want from a place like Nehru?

There's a 30% reciprocal tariff imposed on Nehru, which is this tiny island in the South Pacific that mostly exports fish and pig meat and some phosphates, but not that much anymore, to the rest of the world. Even if you think this isn't necessarily an economic tool, it's a political tool, it's a tool of diplomacy, maybe. The question is, what exactly do we want from a place like Nehru?

I can't imagine that many Americans want to become politicians. phosphate miners. America's fishing industry has been in decline for a long time. And in fact, there's other things the Trump administration is doing that reportedly are hurting the fishing industry right now. So it's just all very confusing. And I think the big question is, what exactly do we want?

I can't imagine that many Americans want to become politicians. phosphate miners. America's fishing industry has been in decline for a long time. And in fact, there's other things the Trump administration is doing that reportedly are hurting the fishing industry right now. So it's just all very confusing. And I think the big question is, what exactly do we want?

I can't imagine that many Americans want to become politicians. phosphate miners. America's fishing industry has been in decline for a long time. And in fact, there's other things the Trump administration is doing that reportedly are hurting the fishing industry right now. So it's just all very confusing. And I think the big question is, what exactly do we want?

When do we declare success from these particular policies?

When do we declare success from these particular policies?

When do we declare success from these particular policies?

It's all very weird. There was a lot of confusion when they released the numbers yesterday because at first no one could figure out what those figures were actually based on, to your point. And it does seem like they basically made a simple math calculation where they took the trade deficit and divided it by exports.

It's all very weird. There was a lot of confusion when they released the numbers yesterday because at first no one could figure out what those figures were actually based on, to your point. And it does seem like they basically made a simple math calculation where they took the trade deficit and divided it by exports.

It's all very weird. There was a lot of confusion when they released the numbers yesterday because at first no one could figure out what those figures were actually based on, to your point. And it does seem like they basically made a simple math calculation where they took the trade deficit and divided it by exports.

And I got to say, like, if you look at the table, you start seeing some very strange stuff. So South Korea, for instance, has a higher tariff rate than Brazil. We have a free trade agreement with South Korea and tariffs are coming in higher than Brazil, which actually does compete a lot with the U.S. in agriculture. It's just weird.

And I got to say, like, if you look at the table, you start seeing some very strange stuff. So South Korea, for instance, has a higher tariff rate than Brazil. We have a free trade agreement with South Korea and tariffs are coming in higher than Brazil, which actually does compete a lot with the U.S. in agriculture. It's just weird.

And I got to say, like, if you look at the table, you start seeing some very strange stuff. So South Korea, for instance, has a higher tariff rate than Brazil. We have a free trade agreement with South Korea and tariffs are coming in higher than Brazil, which actually does compete a lot with the U.S. in agriculture. It's just weird.

And then the other thing to remember is that famous billboard that Trump trotted out. That was just the reciprocal tariff. So these tariffs are coming in on top of other tariffs that have already been imposed. So for instance, China, it's getting an additional 34% tariff, but it had 20% worth of tariffs imposed on it earlier. So its effective rate is now 54%.

And then the other thing to remember is that famous billboard that Trump trotted out. That was just the reciprocal tariff. So these tariffs are coming in on top of other tariffs that have already been imposed. So for instance, China, it's getting an additional 34% tariff, but it had 20% worth of tariffs imposed on it earlier. So its effective rate is now 54%.

And then the other thing to remember is that famous billboard that Trump trotted out. That was just the reciprocal tariff. So these tariffs are coming in on top of other tariffs that have already been imposed. So for instance, China, it's getting an additional 34% tariff, but it had 20% worth of tariffs imposed on it earlier. So its effective rate is now 54%.

This is exactly to your point earlier about why didn't people expect this. I mean, people in the administration don't seem to have expected this. Right. Trump was talking about tariffs all of last year. And that's his big thing. I mean, someone pointed out earlier that he's been talking about tariffs. when he was like on Oprah in the 1980s. It's a long held belief.

This is exactly to your point earlier about why didn't people expect this. I mean, people in the administration don't seem to have expected this. Right. Trump was talking about tariffs all of last year. And that's his big thing. I mean, someone pointed out earlier that he's been talking about tariffs. when he was like on Oprah in the 1980s. It's a long held belief.

This is exactly to your point earlier about why didn't people expect this. I mean, people in the administration don't seem to have expected this. Right. Trump was talking about tariffs all of last year. And that's his big thing. I mean, someone pointed out earlier that he's been talking about tariffs. when he was like on Oprah in the 1980s. It's a long held belief.