“…Trump personally
selected a formulathat was based on two simple variables — the trade deficit with each country and the total value of its U.S. exports, said two of the people, who spoke on the condition of anonymity to recount internal talks.
While precisely who proposed that option remains unclear, it bears some striking similarities to a methodology published during Trump’s first administration by Peter Navarro, now the president’s hard-charging economic adviser.
After its debut in the Rose Garden on Wednesday, the crude math drew mockery from economists as Trump’s new global trade war prompted a sharp drop in markets.
… After deliberations that went late into Tuesday, Trump didn’t decide on the final plan until about 1 p.m. Wednesday — less than three hours ahead of his Rose Garden announcement.
… “He’s at the peak of just not giving a f--- anymore,” said a White House official with knowledge of Trump’s thinking.
“Bad news stories? Doesn’t give a f---. He’s going to do what he’s going to do. He’s going to do what he promised to do on the campaign trail.” …”