That’s the argument coming from the American Enterprise Institute, a think tank in Washington, D.C. that espouses conservative views, which looked into the mathematical formula published by the U.S. Trade Representative to calculate reciprocal tariffs.

President Donald Trump's tariffs were expected to be a problem for markets and the economy, but a manageable one. What actually emerged, though, has been economic and geopolitical mayhem. Markets recoiled at the developments,

Stock markets continued to fall Friday as traders reacted to President Donald Trump's announced tariffs and the global response.