They're Raping Us Too?' Andrew Ross Sorkin Hammers Trump Commerce Secretary For Putting Tariffs On Countries With Trade Surpluses

Commerce Secretary Howard Lutnick defended the Trump administration's tariffs during a CNBC interview, despite concerns raised about applying tariffs on countries like the UK and Australia, with which the U.S. has a trade surplus. Host Andrew Ross Sorkin questioned the rationale behind such tariffs, leading to a discussion about the complexities of trade numbers, including the UK's VAT. An analysis from Sky News further criticized the tariffs, suggesting that based on Trump's own formulas, the UK should be benefiting from a tariff reduction instead of facing higher costs.

"If you looked at them and really studied it, you'd see they have a goods deficit with us, right?"

"By its own reciprocal tariff formula, the UK should be benefitting from a negative tariff of 9%. Instead, it has been hit by a 10% baseline tariff."

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