Unless you avoid the news, we all heard a lot about tariffs this weekend. So this morning, instead of going with some other things I found, I decided I wanted to look and see just what the data is on tariffs. Turns out Trump is wrong on the data about tariffs. In short, in 2016 the US had a slightly higher average tariff for all products at 1.61%. The EU was at 1.6%. And the Canadians? They charged an outrageous 0.8%.
The data comes from the World Bank.
And over breakfast, I did not really have the time to clean this graphic up, so it shows the whole world. Though it goes to show you, the western countries against which Trump raged this weekend generally have low tariffs, some lower than what the US.
Credit for this one is mine.