Amid the outcry over President Trump’s trade taxes on Chinese products, set to begin today, a new report reveals that the Asian economic giant imposes tariffs more than twice as high as the United States.
On average, China’s tariff on products is 3.54 percent, according to the World Bank.
Average applied tariff rate across all products, 2016:
?? Canada 0.8%
?? Japan 1.4%
?? EU 1.6%
?? U.S. 1.6%
?? China 3.5%
?? Mexico 4.4%
?? India 6.3%
?? Brazil 8.0%https://t.co/HK7Lk98eYU pic.twitter.com/WT6HRe9lpY— Pew Research Global (@pewglobal) March 22, 2018
By comparison, the U.S. average is 1.61 percent. That is among the lowest in the world and also about the lowest ever charged by the country.
“Since the turn of the 21st century, U.S. average tariff rates have consistently been at or near their lowest levels in the nation’s history; today, they’re also among the lowest in the world,” said an analysis of the world data by the Pew Research Center.
“According to the World Bank, the average applied U.S. tariff across all products was 1.61 percent; that was about the same as the average rate of 1.6 percent for the 28-nation EU, and not much higher than Japan’s 1.35 percent. Among other major U.S. trading partners, Canada’s average applied tariff rate was 0.85 percent, China’s was 3.54 percent and Mexico’s was 4.36 percent,” it added.
Trump has long been critical of China’s trading practices and on Thursday imposed about $60 billion in tariffs on some of China’s products. China retaliated with its own boost of up to 25 percent.
