Why Small Changes Meant Big Differences in Tariff Rates, From Bermuda to Switzerland President Trump's new tariffs on more than 100 countries used the same simple formula to calculate the rate for each of them. The formula’s central value is the trade deficit, the difference between imports and exports between each country and the United States, for the year 2024. U.S. imports of goods from other country in 2024 U.S. exports of goods to other country in 2024 Trade deficit The bigger this is, the higher the tariff U.S. imports of goods from other country in 2024 U.S. exports of…