Surge in U.S. tariffs on Chinese imports ------------------------------------------ Since taking office in 2017, U.S. President Donald Trump has increased average tariffs on Chinese imports from three percent to more than 18 percent. By year’s end tariffs could surge past 24 percent ------------------------------------------ Average tariff rates on U.S. imports from China 3.1% 2017: Most favoured nation rate 12.4% 2018: Average up 8.5%. 10% tariff on $200bn of Chinese goods, 25% on $50bn 18.3% May 2019: Up 5.9%. 10% tariff on $200bn of Chinese goods raised to 25% 21.2% Sep 1: Up 2.9%. Trump could slap 15% tariffs on $112bn of Chinese goods 22.1% Oct 1: Up 0.9%. 25% tariff on $250bn raised to 30% 24.3% Dec 15: Up 2.2%. 15% tariffs on $160bn of Chinese goods ------------------------------------------ Average weighted tariff levels (2017) Australia 0.9% Canada 1.5% U.S. 1.7% UK 1.8% Germany 1.8% Italy 1.8% France 1.8% Russia 3.6% China 3.8% Saudi Arabia 4.8% India 5.8% European Union average Trump’s current tariffs on China will result in 934,000 U.S. jobs lost – Trade Partnership estimate ------------------------------------------ Sources: PIIE, Stratfor, Trade Partnershp, World Bank Picture: Associated Press © GRAPHIC NEWS