Scott Bessent takes the lead as Trump advisers spar over tariffs
US Treasury secretary’s growing role marks shift away from White House’s trade hardliners
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Trump’s self-defeating tariffs on south-east Asia
Forced to choose between the US and China, the likes of Vietnam may opt for Beijing
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Trump’s tariff formula used the wrong value in its calculations, conservative think tank says. ‘This whole thing was rigged.’
“What’s driving the policy, is that since the 1980s Trump has been a protectionist, and he thinks trade deficits are losses and trade surpluses are profits,” AEI’s Stan Veuger told Fortune.
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Trump trade guru Peter Navarro says Vietnam’s zero-tariff offer ‘means nothing’ because ‘it’s the non-tariff cheating that matters’
Navarro said trading partners cheat the U.S. via methods like currency manipulation and export subsidies, but also through levying VAT.