“That’s a triangle,” he said. “I don’t know what that is, but up here, that’s Xi from China, and that’s me stabbing him with the sword. And then down here, that’s some sideways ...

Using the formula: τ_i = (x_i / m_i) - 1 τ_i = (150 / 500) - 1 τ_i = 0.3 - 1 = -0.7 A negative tariff rate is not possible, so this suggests that in order to balance trade, either imports must ...