{"id":326528,"date":"2025-08-08T00:28:10","date_gmt":"2025-08-08T00:28:10","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/326528\/"},"modified":"2025-08-08T00:28:10","modified_gmt":"2025-08-08T00:28:10","slug":"trump-tariffs-17-effective-rate-50bn-monthly-customs-revenue","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/326528\/","title":{"rendered":"Trump tariffs: 17% effective rate, $50bn monthly customs revenue"},"content":{"rendered":"<p> <img src=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/08\/123174793.jpg\" alt=\"Trump tariffs: 17% effective rate, $50bn monthly customs revenue\" decoding=\"async\" fetchpriority=\"high\"\/> NEW DELHI: For all the noise over India being the tariff king, the US effective tariff rate for all countries is now estimated at 17%, Fitch Ratings has estimated after the latest reciprocal tariff announcements. The effective rate that Indian goods will pay to enter US before Aug 27 was estimated at 20.8%, including exempted products.In 2024, the latest period for which data is available with WTO, India&#8217;s simple average tariff was estimated at 16.2% &#8211; 36.7% for agricultural products and 13% for non-agricultural goods. Following the Budget in Feb, the average is estimated to have come down further. <\/p>\n<p>Putin&#8217;s CHILLING Warning To Trump On Russia-China War Games Finale | Watch &#8216;Enemy&#8217; Subs Go Boom<\/p>\n<p>According to the WTO database, the average US tariff in 2024 was 3.3% with farm goods facing a 5% levy, while non-agri products attracting 3.1% import duty. But with additional duties upwards of 10% for most countries, the average tariff is set to jump. In case of India and Brazil, the additional tariff will be 50%, while China and South Africa are in the 30% bracket.While the average tariff in the US may be low &#8211; after all, for decades it was the biggest champion of low tariffs &#8211; it does have goods which attract high levies.For instance, certain types of peanuts in shells attract 54.6% duty at MFN rate, which after the &#8220;reciprocal tariffs&#8221; will rise to nearly 105% for India and Brazil. Similarly, peanut butter attracts 44% customs duty in the US and several types of footwear see tariffs of 37.5% on MFN basis.Dates, apricots and dried onions are in the 30% range, while several types of women&#8217;s trousers and some tracksuits face 28.2% duty. Boys&#8217; trousers and bovine meat are in the 26-27% range.There are complicated ones too such as wristwatches where there is a mix of specific levies and ad valorem rates as is the case with several other items.The new tariffs are seen to be a custom revenue generating move by Trump with the tax yielding $30 billion (Rs 2.5 lakh crore) in July. In an interview, US commerce secretary Howard Lutnick on Thursday said that customs revenue is headed to the $50-billion mark (Rs 4.4 lakh crore) &#8211; almost twice India&#8217;s projected customs revenue for govt for 2025-26 financial year.<\/p>\n","protected":false},"excerpt":{"rendered":"NEW DELHI: For all the noise over India being the tariff king, the US effective tariff rate for&hellip;\n","protected":false},"author":2,"featured_media":326529,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3090],"tags":[51,117658,1700,29884,117657,554,16,15,117656],"class_list":{"0":"post-326528","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-customs-revenue","10":"tag-economy","11":"tag-fitch-ratings","12":"tag-india-tariffs","13":"tag-trump-tariffs","14":"tag-uk","15":"tag-united-kingdom","16":"tag-us-effective-tariff-rate"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114990317899058692","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/326528","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=326528"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/326528\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/326529"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=326528"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=326528"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=326528"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}