Tariffs in the USA are rising to levels of the 1940s

• The average tariff rate in the USA is projected to reach 11.4% in 2025.
• Tariffs on imports from Brazil and India are increasing to 50%.
• Prices for clothing, automobiles, and alcohol are expected to rise.

The average tariff rate in the USA in 2025 is forecasted to rise to 11.4% due to the reinstatement of tariffs imposed by the Trump administration. This is the highest level since the 1940s when tariff rates began to decline after the Great Depression.

Currently, tariffs on imports from Brazil stand at 50%, while those on Indian goods are expected to increase to 50% by the end of this month. These initial rates are linked to political decisions, particularly, Brazil's tariffs are influenced by the legacy of former President Jair Bolsonaro, while India's are due to the import of Russian oil.

In addition, new tariffs on goods, such as alcohol, automobiles, and clothing, will contribute to consumer prices. For example, prices for clothing could increase by 20%, impacting popular brands like Nike and Adidas.

Currently, nearly 70% of imported goods are subject to tariffs, which could lead to a loss of 0.8% in US GDP and nearly 80,000 jobs. According to estimates, after taxes are paid, the incomes of average Americans will decrease by approximately 1%.

Tags: USA/Economy