China Lowers Tariffs for other WTO Countries

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

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