Trump’s tariff formula used the wrong value in its calculations, conservative think tank says. ‘This whole thing was rigged.’

• A conservative think tank found the White House measured retail price elasticity when it should have used import price elasticity. That mistake meant the tariff outputs were about four times higher than they should have been. 

The formula the White House used to calculate its recent tariff is based on an error that roughly quadrupled the rates from what they should have been. 

Two scholars at the American Enterprise Institute (AEI), a conservative think tank, found...