US Tariff Rate May be More Than 20% After Latest Round, Global Business Group Says
U.S. consumers face an effective U.S. tariff rate of more than 20%, the highest since the early 1900s, the International Chamber of Commerce has estimated following President Donald Trump's import levy announcements this week.
Rates are already around 16%, their highest since the 1930s.
The calculation is based on the tariffs included in letters sent by Trump's administration this week to trading partners, 50% copper tariffs, and the threat of duties as high as 200% on pharmaceutical tariffs, Andrew Wilson, ICC deputy secretary....
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