According to this article, even the value of epsilon is wrong. Epsilon stands for 'price elasticity', which seems to measure how much tariffs would affect the price of an item. 0.25 is the value used by the White House, but some economists have come out saying it is actually closer to 0.945, indicating that prices are affected far greater by tariffs than what these buffoons claim. But even with the correct value, the formula makes no sense.
Without the fancy shit, it's basically (exports/imports) - 1.
Thank you. You've solved a mystery that bugged me since forever lol. Yay, I am not crazy. I legit thought there was something wrong with my eyesight all these years, or that they were just weird floaters. Thank you so much, friend. Relate hard to the sound stuff as well, it's nice to know it happens to other people al well.