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To: DugwayDuke
Exactly, the US imposes tariffs on over 12,000 items. How many more do we need?

The USA collects less than 1% on imported goods.

27 posted on 04/08/2016 6:16:57 AM PDT by central_va (I won't be reconstructed and I do not give a damn.)
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To: central_va

“The USA collects less than 1% on imported goods.”

Which says very little about the actual tariff rates. The World Bank says the weighted mean applied tariff for the US is about 1.5% and that is a function of the rate and the amount imported. IOW, items with very high rates will have low imported amounts contributing little to the weighted mean average.

BTW, tariff rates, as recently as 2010, were as high as 350% tobacco; 164% on peanuts; 100% on jam, chocolate and ham; and 48% on sneakers. There are tariff based quotas on other items such as sugar. Some estimates in 2011 indicated that the tariffs on sneakers indicated that this tariff increased the cost of a pair of sneakers by 40% costing consumers over $2B per year.


34 posted on 04/08/2016 6:53:04 AM PDT by DugwayDuke
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