Comment by cldellow
8 days ago
> If he's correct
He's not.
According to [1], the White House claims Vietnam has a 90% tariff rate.
According to [2], 90.4% is the ratio of Vietnam's trade deficit with the US -- they have a deficit of $123.5B on $136.6B of exports.
The same math holds true for other countries, e.g. Japan's claimed 46% tariff rate is their deficit of $68.5B on $148.2B of exports. The EU's claimed 39% tariff rate is their deficit of $235.6B on $605.8B of exports.
Who knows, maaaaybe it just so happens that these countries magically have tariff rates that match the ratio of their trade deficits.
Or maybe, the reason Vietnam doesn't buy a lot of US stuff is because they're poor. The reason they sell the US a bunch of stuff is because their labour is cheap to Americans. (They do have tariffs, but they're nowhere near 90%: [3].)
America's government is not trustworthy. Assuming that what they say is truthful is a poor use of time.
[1]: https://x.com/WhiteHouse/status/1907533090559324204/photo/1
[2]: https://ustr.gov/countries-regions/southeast-asia-pacific/vi...
[3]: https://www.investmentmonitor.ai/news/vietnam-gives-us-tax-b...