Financial FitnessGeneral Information

Has the China Trade Agreement Impacted Tariffs?

By March 12, 2020 No Comments

According to the Peterson Institute for International Economics, even after signing the phase one trade truce on January 15th of 2020, the average tariff imposed by China on U.S. imports is at 21%, and the average tariff imposed by the United States on Chinese imports is 19%.

When the current China/U.S. trade war began in February of 2018, the average tariff imposed on the US by China was only 8%, and the average tariff imposed on China by the United States was 3%.

So the question is, has the signing of phase one trade agreement really helped the US and China on trade between the two countries?


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