Orders for big-ticket items like autos and appliances surged 9.2% in March in rush to beat tariffs
Transportation equipment orders surged 27%, led by a 139% increase in nondefense aircraft and parts.
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Lower Trump tariff on UK is no thanks to diplomacy | Letters
John Bailey does the sums on the 10% tariff imposed by the US, and Lee Wilkinson has a Crocodile Dundee moment
Not surprisingly, Labour ministers are claiming the imposition of “only” a 10% across-the-board tariff on UK exports to America (excluding steel, aluminium and automobiles, already hit with a 25% rate) as vindication of their diplomatic skill in dealing with Donald Trump (‘It could’ve been much worse’: how UK avoided a bigger blow from Trump tariffs, 5 April).
In fact, the figure of 10% owes less to diplomacy and rather more to the method used to calculate the tariff. The algorithm applied is simple (and simplistic) in the extreme: the tariff equals either the total deficit in US trade with a particular country, divided by the value of that country’s exports to America and then halved, or a default 10%, whichever is larger (Trump’s ‘idiotic’ and flawed tariff calculations stun economists, 3 April).
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