The average global tariff rate is 2.6%:
* https://en.wikipedia.org/wiki/List_of_countries_by_tariff_ra...
Most countries have an average / mean tariff rate of <10% per the World Bank and WTO. Further, most countries probably have zero tariffs on most products, with higher ones for specific reasons:
* https://www.noahpinion.blog/p/when-are-tariffs-good
Tariffs have been falling for decades:
* https://www.pewresearch.org/short-reads/2018/03/22/u-s-tarif...
Certainly for the first column it may be true that if the tariffs are so high on some products that there are going to be no imports and the "weighted actual" will be close to 0.
I'm not going to the last column since it ignores two important categories.
A bit of salt on your steak might be good, but if you emptied the entire salt shaker on it, it would be gross.
Here's a hot tip: if you see a country like North Korea, don't ask why they're doing what they're doing on the assumption that it's good. Move in the opposite direction.
But no other country has blanket tariffs on so many other countries.
But blanket tariffs against the whole world seems unhinged. Many of the products and materials we import have no domestic sources or limited domestic sourced that are not expandable. The us won't be able to grow domestic coffee to meet the domestic demand. Tariffing coffee import is just going to make morning routines slightly more expensive for many americans.
There was a lot less pushback for specific industry tariffs or specific country tariffs during the last Trump administration. Steel tariffs and the trade war with China weren't necessarily liked by all, especially in the specifics, but tariff all the imports is terrible.
They then decide based on trade balance to enact an actual, unilateral tariff.
Do they?
https://data.worldbank.org/indicator/TM.TAX.MRCH.WM.AR.ZS
I guess Trump wants to convert the US into a Central African country - a transoceanic banana Republic.