Who developed US President Donald Trump’s ‘Liberation Day’ tariff formula? The mystery continues

US President Donald Trump has announced a tariff standing on him Trade partner Depending on the imbalance, the global markets are stunning. The brain behind this tariff formula, however, remains a mystery.
“Trump used everyone as a sounding board till the last time,” a White House official told the New York Post. He said that the person responsible for developing the formula to address the business imbalance – focusing on more than the tariff only – “A mystery for all what I ask or they are keeping a secret.”
Conflicting statements have carried forward the issue, with a contradictory clue about some who were responsible. However, senior White House officials indicated on Wednesday Economic advisory councilUnder the leadership of economist Stephen Miran, as a group that determines the rates.
“The numbers have been calculated by the Council of Economic Advisors, which use very well established work from international trade economic literature as well as policy exercises. The model they use is based on the concept that the business deficit we have with any country is the sum of all unfair trade practices, the sum of all the cheating is the sum of all the cheating,” Post said an official.
However, on Thursday, main White House Economist Kevin Haset said that the Greece’s office was the primary force behind the initiative. “What happened that American trade representative It was observed where the trade deficit was placed and the tariff was adjusted to respond, ”Haseet said.
The announcement was made during a high-profile event at Liberation Day at the White House Rose Garden, the decision has created a possibility of a growing trade struggle.
The new policy faces 34% tariff on Chinese goods, 20% on imports from the European Union and 24% on Japanese products, while in most other countries including Britain, a standard 10% tariff is faced.
Implemented under the International Emergency Economic Forces Act of 1977, measures are designed to reduce trade deficit and reduce domestic manufacturing. While Trump argues that the policy is important for the safety of American industries, critics should take care that it could happen Economic uncertainty And increase a business war.