A bastardised spreadsheet formula that divides the US trade deficit with each country by its imports, adds some voodoo and spits out a number that now threatens to implode global trade.

US President Donald Trump has declared economic war on the world, as promised, and our leaders are arguing over VAT decimal points. If there’s one good thing that might come from Tariff Man’s trade war timing, it’s that it could force some common sense into our politicians. ..

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