The United States has become one of the most protected markets in the world, with its effective tariff rate against the world rising to 17 per cent from around 2 per cent last year \u2013 prompting renewed calls in China for greater trade diversification and a strategic push to seize opportunities in technological self-reliance and global governance.<\/p>\n
Fitch Ratings updated its US Effective Tariff Rate (ETR) Monitor \u2013 an interactive tool tracking tariff policy \u2013 last week, following Washington\u2019s announcements on July 27 and July 31 of new tariffs on most trading partners.<\/p>\n
As a result, the US effective tariff rate now stands at 17 per cent.<\/p>\n
China continues to face the highest tariff burden among America\u2019s major trading partners, with China\u2019s ETR at 41.4 per cent, up from 10.7 per cent at the end of last year.<\/p>\n
Liao Yue, a lecturer at Renmin University of China, pointed out that US President Donald Trump\u2019s second term has pushed his Make America Great Again (Maga) agenda to new heights.<\/p>\n
\u201cMaga supporters believe that free trade has put the US at a disadvantage \u2013 especially blaming China for the hollowing out of American industry \u2013 and they advocate for protectionist policies such as high tariffs and reshoring manufacturing to restore the economic dominance of a perceived golden age,\u201d Liao said during an online forum last week.<\/p>\n
He added that while the near term may see China facing more intense trade frictions, or even a full-scale tariff war, a window of opportunity exists for China in the weakening of the US alliance system under Trump\u2019s \u201cAmerica first\u201d agenda.<\/p>\n","protected":false},"excerpt":{"rendered":"The United States has become one of the most protected markets in the world, with its effective tariff…\n","protected":false},"author":2,"featured_media":46138,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[26042,26037,5713,24321,9548,84,891,24988,141,1294,591,935,26004,26038,26040,26039,12393,56,54,158,55,26041,2866],"class_list":["post-46137","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-america-first","tag-asean","tag-beijing","tag-belt-and-road-initiative","tag-brazil","tag-business","tag-china","tag-chinese-academy-of-social-sciences","tag-donald-trump","tag-economy","tag-europe","tag-european-union","tag-fitch-ratings","tag-global-south","tag-liao-yue","tag-renmin-university-of-china","tag-taiwan","tag-uk","tag-united-kingdom","tag-united-states","tag-unitedkingdom","tag-us-effective-tariff-rate","tag-washington"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/46137","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=46137"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/46137\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/46138"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=46137"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=46137"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=46137"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}