U.S. effective tariff rate settles at 17%

MG News | August 04, 2025 at 10:33 AM GMT+05:00
August 4, 2025 (MLN): The U.S. Effective Tariff Rate (ETR) stands
at 17%, showing the latest changes in reciprocal tariffs shared on July 27 and
July 31, according to Fitch Ratings.
This marks an 8 percentage-point drop from April 3, 2025,
when higher reciprocal tariffs were first introduced, but is still 3 percentage
points higher than the estimate at the end of June 2025.
The new ETR reflects a 15% tariff rate on goods from the
European Union, including automobiles and auto parts.
While this is significantly lower than the initially
threatened 30% earlier in July, individual ETRs for EU member states will vary,
ranging from approximately 3% to over 18%, depending on import composition and
country of origin.
It also confirmed a reciprocal tariff rate for Canada of 35%
on non-United States-Mexico-Canada Agreement (USMCA) compliant goods, resulting
in an ETR of 10% that incorporates 50% tariffs on aluminum, steel and copper.
Tariffs on Mexico non-USMCA compliant goods remain at 25%
while the U.S. trade negotiations continue.
The U.S. has also imposed a standard 15% reciprocal tariff
rate on imports from countries with which it records a trade deficit, while a
10% baseline tariff remains in place for most other nations.
Tariffs on Chinese imports remain at 34%, placing China at the top of the list of major U.S. trading partners in terms of effective tariff burden under the updated regime introduced on August 1.
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