The Trump administration took that formula’s figure, -0.5 for South Korea, and divided it by two to calculate the U.S. “discounted reciprocal” tariff rate. So, while South Korea imposes an effective tariff rate of .79 percent on U.S. goods, the reciprocal tariff rate the U.S. is imposing on South Korea is 25 percent.

President Donald Trump’s promised tariffs are a day away – and they’ll go into effect sooner than some had expected. As in, immediately, the White House said Tuesday. Although many details remain unknown,

As the trade wars launched by U.S. President Donald Trump continue to escalate, all eyes are on Wednesday.Trump has repeatedly called April 2 “Liberation Day,” with promises to roll out a set of tariffs,