The Trump administration has once again floated the idea of “reciprocal” tariffs on foreign countries. While it is unclear what formula the administration will use to determine what is “reciprocal,” the intention of responding to foreign charges—real and perceived—is clear enough. In the past, the administration has made general assertions about different tariffTariffs are taxes imposed by one country on goods imported from another country. Tariffs are trade barriers that raise prices, reduce av...