Top Highlights

• merican duties were worth 3% of the country’s total import value, double the level when Mr Trump took office. Tariffs on Chinese imports rose from 3% to 19%,
• 66% of Americans think the government should place restrictions on imported foreign goods to protect jobs at home, up from 60% in 2018
• Mr Trump put forward two ideas. First, all foreign firms selling to America would face a 10% levy. Second, if any country placed a high tariff on anything American, he would hit back with exactly the same tariff.
• The Committee for a Responsible Federal Budget, an advocacy group, estimates that a 10% tariff may bring in up to $2.5trn in extra revenue during its first decade of implementation, which could be used to reduce America’s budget deficit.
• American tariffs on cars are just 2.5%, whereas the European Union charges 10%. What he omits is that America has long placed a 25% tariff on imports of pick-up trucks, not to mention hefty duties on some imports of lumber and foods

Domain