US Effective Tariff Rate falls to 7.4% under new trade regime
The U.S. effective tariff rate (ETR) has dropped to 7.4% from 9.4% following the replacement of the temporary Section 122 import surcharge with new Section 301 tariffs covering goods from 60 economies, including the European Union.
July 30, 2026 (MLN): The U.S. effective tariff rate (ETR) has dropped to 7.4% from 9.4% following the replacement of the temporary Section 122 import surcharge with new Section 301 tariffs covering goods from 60 economies, including the European Union. The latest estimate by Fitch Ratings also shows a change in the methodology, with annualized U.S. trade flows for January-May 2026 used instead of 2024 import data ap...