Tariff rates Trump ascribes to other countries are vastly higher than World Trade data shows [MSNBC.com]
JP Morgan Chase & Co. (JPM)
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Source: MSNBC.com
U.S. President Donald Trump speaks during an event announcing new tariffs in the Rose Garden at the in Washington, April 2, 2025.Chip Somodevilla | Getty Images"reciprocal" tariff policycalculatedTrump's plan established a 10% baseline tariff on almost every country, though many nations such as China, Vietnam and Taiwan are subject to much steeper rates. At a ceremony inThose reciprocal tariffs are mostly about half of what the Trump administration said each country has charged the U.S. For example, the poster said China charges a tariff of 67% and that the U.S. will implement a 34% reciprocal tariff in response.However, a report from the Cato Institute said the trade-weighted average tariff rates in most countries are much lower than the Trump administration said. The report is based on trade-weighted average duty rates from the World Trade Organization in 2023, the most recent year available.The Cato Institute said the 2023 trade-weighted average tariff rate from China was 3%, not
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