The average tariff rate in the United States has significantly soared, reaching its highest level since 1933

According to a report by Jin Shi, the tariff tracking tool jointly developed by the World Trade Organization and the International Monetary Fund shows that as of the 7th, the trade weighted average tariff rate of the United States on all products worldwide has risen to 20.11%, significantly higher than the 2.44% at the beginning of the year. The data shows that the simple average tariff rate of the United States on all goods worldwide has increased from 2.08% at the beginning of the year to 17.39% on the 7th. The global affected trade volume has soared from $288.46 billion at the beginning of the year to the current $2.747 trillion. The Yale University Budget Lab, which has been tracking the impact of US tariff policies for a long time, released a report on the 7th showing that with further adjustments to US tariff policies, its average effective tariff rate has now reached 18.6%, the highest level since 1933.