Smoot-Hawley, but stupider

A graph showing a directly linear relationship between yesterday's announced tariffs and the (imports - exports) / imports ratio, going steadily up from Israel and the Philippines to Vietnam with a slope of 2.
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A graph showing a directly linear relationship between yesterday's announced tariffs and the (imports - exports) / imports ratio, going steadily up from Israel and the Philippines to Vietnam with a slope of 2.
source: Twitter

In case you missed it, the "retaliatory tariffs" are simply figuring out what our trade deficit is as a percentage of our exports, then dividing that by half (floored at 10% as a fuck-you to Australia)—explicitly acknowledged now because if America buys more stuff from abroad it must be because abroad is somehow cheating.

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