Back

US Weighted Tariffs Surge to 20.11% as Effective Rate Hits 1933 Peak

A joint WTO and IMF tariff tracking tool, cited by both BlockBeats and PANews (via Jinshi), reveals a dramatic surge in US tariffs impacting global trade, with Yale University reporting the highest effective rate since 1933.

Summary

A joint WTO and IMF tariff tracking tool indicates that US trade weighted average tariffs rose from 2.44% to 20.11%, the simple average increased from 2.08% to 17.39%, and affected trade value escalated from $288.46 billion to $2.747 trillion. Yale University's Budget Lab reported an effective tariff rate of 18.6%, the highest since 1933, though source attributions vary.

Terms & Concepts
  • Trade Weighted Average Tariff: A measure that weights individual product tariffs by their share in trade, reflecting the overall tariff burden.
  • Simple Average Tariff Rate: The unweighted mean of tariff rates across various products, offering a basic overview of tariff levels.
  • Effective Tariff Rate: A metric that accounts for exemptions and actual trade flows to represent the real cost of tariffs.