Tag: U.S Effective Tariff Rate Declines to 13% from 23% with Lower China Duty: Fitch Ratings

Fitch Ratings has updated the U.S. Effective Tariff Monitor following the Joint Statement on U.S.-China Economic and Trade Meeting in Geneva, May 12, 2025, that reduces reciprocal tariffs. Fitch estimates that the U.S. effective tariff rate (ETR) is now 13.1%, a notable decline from 22.8% prior to the statement. The 34% reciprocal rate imposed by the U.S. […]