There was widespread shock yesterday when Trump unveiled his reciprocal tariffs (which as we learned were not actually "reciprocal", but more accurately punitive Ricardian retribution sentences), but few were as surprised as exporting powerhouse - and the country China has been using for the past decade to circumvent Trump tariffs - Vietnam, which got slapped with a whopping 46% reciprocal tariff...
... the result of what we now know is simply the ratio of Vietnam's bilateral trade deficit divided by US imports from the country (for two discussions on this simplistic assessment of the Vietnam tariff read this and this).
