China Lowers Tariffs for other WTO Countries

June 19, 2019 Share Print 0

The Trump administration’s tariffs have opened the door for U.S. economic allies in China, a study shows, adding to trade-induced headaches for American businesses.

As Beijing has raised duties in response to the Trump administration’s spate of tariffs, it also lowered trade barriers for exporters around the world, according to an analysis by the Peterson Institute for International Economics. Since the start of 2018, Chinese tariffs on U.S. products have jumped to 20.7%. Over that same time frame, China has reduced tariffs on competing products from other WTO countries to an average of only 6.7%.

All countries, including the U.S., faced an average 8% tariff in China last year, according to the institute.

via CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Bio
Twitter
Google+
Latest Posts

Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.