The latest round of tariff announcements only that a quarter of US imports will be subject to at least an additional 10%. Additional tariffs imposed on 47 countries primarily in the Asia Pacific and across Africa range between 11% and 50%. Three Pacific Island countries – Fiji, Nauru and Vanuatu will be subject to additional tariffs starting 9 April. This article provides a summary of measures and exceptions, as well as discussing implications for Pacific Island exports.
Posts tagged as “Pacific Islands”
China accounts for almost a quarter of the value of worldwide imports of manufactured goods. That is significantly more than any other country. Germany, by contrast, accounts for about 8%, the US 7% and Japan about 5%. The European Union and the United Kingdom account for about the same amount as China, but almost two thirds of this trade is between countries within the bloc. While China’s weight in the world economy has increased, this increase has been uneven and the dependence on China varies significantly across economies.