The weighted average of all African
applied tariffs stands at a stratospheric 8.7 per cent.
It begun when Washington accused Beijing of allowing intellectual property theft and restricting foreign investments unless there is a joint venture, On March 2018, the USA
applied tariffs initially on $50-$60 billion worth of goods which included 1,300 categories of Chinese imports.
"Broadly
applied tariffs are not an effective tool to change China's unfair trade practices.
At present, India's average
applied tariffs are 13.8%, which are the highest for a major economy.
The Donald Trump administration has thus far
applied tariffs to $253 billion worth of Chinese goods, and has threatened to apply 25 percent tariffs to another $267 billion worth of Chinese merchandise if this round of talks are unsuccessful.
The world's two largest economies have already
applied tariffs to $50 billion (Dh183 billion) of each other's goods in a tit-for-tat trade war.
Unlike the United States, Pakistan has a considerable difference between its bound tariffs notified to the World Trade Organisation (WTO) and
applied tariffs. Instead of imposing additional tariffs as done by the United States, Pakistan can simply increase its
applied tariffs.
Washington has already
applied tariffs on $34bn worth of Chinese imports, with another set of duties on $16bn in goods scheduled in the days ahead, according to The Wall Street Journal.
President Donald Trump
applied tariffs of 25 percent on steel and ten percent on aluminum back in June and as this issue goes to press the escalation shows no signs of slowing.
It has also
applied tariffs on imported steel and aluminum from allies like Canada, Mexico and the European Union.
The Trump administration has
applied tariffs on steel and aluminum from allies like Canada and Mexico and has threatened to abandon the North American Free Trade Agreement with those two countries.
