My main concern is, I think, what people are looking at the economy, the first hundred days, low stock market since Richard Nixon, not usually a measure people are shooting for on tariffs. The fact that Last year we had an effective [tariff] rate about 2 1/2 percent. I think the Yale Budget Lab, and I believe you went to Yale, has said that effective rate is closer to 28%, the highest since 1901. (00:13–00:17)
CLAIM
Asserts that the effective tariff rate last year was approximately 2.5%.
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