U.S. effective tariff rate settles at 17%

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MG News | August 04, 2025 at 10:33 AM GMT+05:00

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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.


Copyright Mettis Link News

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