President Donald Trump introduced his “discounted reciprocal tariffs” on over 200 countries on April 2. Most countries receive a base tariff rate of 10%, but for countries receiving more, the rates were calculated by halving a rate he displayed as “tariffs charged to the U.S.A. including currency manipulation and trade barriers.”

Despite a White House spokesman claiming otherwise, the published formula matched what social media users calculated.

The average price across the entire sample is approximately $41 per barrel, up from $39 last year. Across regions, the average price necessary to cover operating expenses ranges from $26 to $45 per barrel. Almost all respondents can cover operating expenses for existing wells at current prices.

Trump first slapped a 10% blanket tariff on all imports into the U.S., including from uninhabited islands, such as the Heard and McDonald islands, and on places with which the U.S. runs a surplus, such as the U.K.

Journalists and economists determined the numbers are based off trade deficits divided by exports. The U.S. trade representative confirmed that this calculation, rather than the tariffs themselves, was how the Trump team determined the reciprocal tariffs that sent global markets into a nosedive this week.

On an a larger scale of comparison, the U.S. holds the largest trade deficit in the world ... Trump announced at least 10% tariffs for 'all' countries with much higher rates for some countries ...

The US claims India charges a 52% per cent tariff on US imports, but where does this figure come from? Let's find out

Far-right conservative podcaster Ben Shapiro did a shocking 180 on President Donald Trump, calling his tariffs “probably unconstitutional” and “pretty crazy.” The political commentator who has voted for and fundraised for Trump is now breaking ranks with the MAGA leader because of differing economic viewpoints.

Here’s what to know about U.S. trade with the countries hit hardest by Trump’s so-called “reciprocal” tariffs.

The president is using an unintelligible equation as a way to impose higher tariffs on the countries with which the United States has the largest trade deficit