New Delhi, March 24 -- Donald Trump firmly believes that everyone-allies, friends, and competitors-is taking advantage of the US economically and politically. His words: The entire world is ripping us off.

So far, much of the media coverage has focused on the US President's tariff agenda and the uncertainty created by his administration's ever-changing announcements. An import tariff is a tax levied on imported goods, but Team Trump seems to view tariffs as a magic potion to make America great again.

It is useful, therefore, to understand why Trump thinks the US has been unfairly treated and how tariffs will set it right.

1. Trade deficit: too high

The US ran a trade deficit of $1.2 trillion in 2024. The deficits with China, Mexico, E...