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IPFS News Link • Tariffs

Mapping Where Global Tariffs Are Highest And Lowest

• https://www.zerohedge.com, Tyler Durden

Last Thursday, President Trump signed an executive memorandum that could lead to tariffs being imposed on up to $60 billion of Chinese products, a move which is designed to penalize China for alleged intellectual property theft. Beijing responded that it while it does not want a trade war, it is "absolutely not afraid of one". Late last week, stock markets dropped sharply.

The Trump Administrations's move to impose tariffs on Chinese imports as well as steel and aluminum imports in general, is a break with long-standing U.S. trade policy. As Statista's Niall McCarthy notes, hHistorically, previous presidents have been in favor of lower tariffs and the removal of barriers to facilitate trade.

Today, the U.S. applies a weighted average tariff of 1.6 percent on its imports according to the World Bank and this is one of the lowest rates worldwide, equivalent to the EU and similar to Japan.


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