China is “rolling out the red carpet for the rest of the world” by lowering tariffs with other countries — even as its trade war with the U.S. continues to drag on.
has over the past year lowered duties on goods from countries that compete with America, the think tank said in a recent report.China's average tariff rate on U.S. goods jumped from 8% at the start of 2018 to 20.7% this month.
China's average tariff rate on its imports from all other countries fell from 8% at the start of 2018 to 6.7% last November. It has stayed at that level since then. China's move to lower tariffs on countries other than the U.S. has received little public attention, with much media coverage focusing on what Beijing andBut in fact, by lowering duties with other trading partners, Beijing has put American firms at a "considerable" disadvantage at a time when U.S. President"China has begun rolling out the red carpet for the rest of the world. Everyone else is enjoying much improved access to China's 1.
"Trump's provocations and China's two-pronged response mean American companies and workers now are at a considerable cost disadvantage relative to both Chinese firms and firms in third countries," said researchers, who include notable trade expert Chad P. Bown.Peterson Institute for International Economicsthan President Trump thinks, " as a result of the trade war.
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