Fitch Ratings updates its tariff-policy tracker after Washington’s decisions last week to hit most trading partners
The United States has become one of the most protected markets in the world, with its effective tariff rate against the world rising to 17 per cent from around 2 per cent last year – prompting renewed calls in China for greater trade diversification and a strategic push to seize opportunities in technological self-reliance and global governance.
Fitch Ratings updated its US Effective Tariff Rate (ETR) Monitor – an interactive tool tracking tariff policy – last week, following Washington’s announcements on July 27 and July 31 of new tariffs on most trading partners.
As a result, the US effective tariff rate now stands at 17 per cent.
China continues to face the highest tariff burden among America’s major trading partners, with China’s ETR at 41.4 per cent, up from 10.7 per cent at the end of last year.
