Fitch Lifts US Effective Tariff Rate Estimate to 16%

Fitch Ratings said the United States’ overall effective tariff rate (ETR) now stands at 16%, according to its latest monitor released 15 Aug. The assessment updates the agency’s gauge of the weighted average tariffs actually paid on U.S. imports after the imposition of multiple levies in recent years. Fitch attributed the higher headline figure in part to greater compliance with United States–Mexico–Canada Agreement rules of origin, which influence the duties applied to North American trade flows. China remains the most heavily taxed major trading partner, with an effective tariff rate of 41.4% under the tariff schedule that took effect on 1 Aug.