On September 1, 2019, China imposed additional tariffs on ** billion U.S. dollars worth of the U.S. import goods. A trade war between the world's two largest economies was initiated by president Trump in mid-2018 and escalated further throughout 2019.

On April 9, 2025, the U.S. imposed high import tariffs on Chinese goods. Average U.S. tariffs on imports from China reached ***** percent on April 10, 2025. In comparison, import levies on exports from the rest of the world were at around **** percent. In response to increased U.S. tariffs, China imposed retaliatory levies, averaging ***** percent as of April 12, 2025. After trade talks, the U.S. and China agreed to temporarily lower mutual trade barriers, leading to average U.S. tariffs of **** percent and average Chinese tariffs of **** percent on May 14, 2025.

China Import: Duty Free Goods data was reported at 200.808 USD mn in Mar 2025. This records an increase from the previous number of 159.573 USD mn for Feb 2025. China Import: Duty Free Goods data is updated monthly, averaging 192.227 USD mn from Jan 2014 (Median) to Mar 2025, with 135 observations. The data reached an all-time high of 686.897 USD mn in Nov 2020 and a record low of 58.453 USD mn in Feb 2020. China Import: Duty Free Goods data remains active status in CEIC and is reported by General Administration of Customs. The data is categorized under China Premium Database’s International Trade – Table CN.JA: USD: Trade by Method of Trade and Nature of Enterprise.

Tariff rate, applied, weighted mean, all products (%) in China was reported at 2.18 % in 2022, according to the World Bank collection of development indicators, compiled from officially recognized sources. China - Tariff rate, applied, weighted mean, all products - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

The US-China trade war created net export opportunities rather than simply shifting trade across destinations. Many “bystander” countries grew their exports of taxed products into the rest of the world (excluding US and China). Country-specific components of tariff elasticities, rather than specialization patterns, drove large cross-country variation in export growth of tariff-exposed products. The elasticities of exports to US-China tariffs identify whether a country’s exports complement or substitute US or China and its supply curve’s slope. Countries that operate along downward-sloping supplies whose exports substitute (complement) US and China are among the larger (smaller) beneficiaries of the trade war.

The Trump administration's unprecedented tariffs are accelerating US-China decoupling, compelling business leaders to rethink strategies after decades of established trade norms.

President Trump's proposals to impose universal tariffs as well as tariffs on Chinese, Canadian, and Mexican imports would considerably increase the average tariff rate. It's estimated that, if put into effect, the average tariff rate including dutiable imports would reach almost 18 percent, up from two percent in 2024. Tariff rates are higher when dutiable imports are included because they refer only to goods that are actually subject to tariffs, rather than all imports. This skews the average tariff rate upward because it excludes duty-free goods. Trump's proposal for a universal 10 percent tariff on all imports would impose a flat tax on all imports, rather than just dutiable goods. This would result in a sharp increase in the overall tariff burden because previously duty-free goods would be taxed.

US Tariff Impact on Market

The US tariff policies have significantly impacted the global trade management market, leading to both opportunities and challenges for businesses. In particular, tariffs on imported goods have increased the complexity of managing cross-border trade, requiring businesses to implement more sophisticated trade management solutions.

As companies face rising costs due to tariffs, the demand for trade management systems that help optimize customs compliance, minimize duties, and streamline logistics has surged. Furthermore, sectors such as manufacturing, retail, and transportation have felt the brunt of these tariffs, with industries directly impacted by increased trade barriers.

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For example, the retail sector has seen a rise in goods costs, ultimately affecting margins. The US tariff impact on sectors like manufacturing and retail is approximately 10-15% as they deal with higher raw material costs and inventory disruptions. Companies now look for more automation and integrated solutions to mitigate these costs and streamline operations.

➤ Economic Impact

The US tariffs have led to an increased cost of imports, pushing businesses to adopt more efficient trade management systems. As tariffs increase, businesses are forced to reevaluate their supply chain strategies, leading to higher operational costs. In the long term, this could prompt global shifts in trade flows.

➤ Geographical Impact

US tariffs have disproportionately affected countries with high trade volumes with the US, especially China, Mexico, and Canada. As tariffs increase, businesses in these regions must adapt to higher costs and potential disruptions. This shift influences regional trade agreements and the movement of goods, altering global trade dynamics.

➤ Business Impact

US tariffs have forced businesses to invest in advanced trade management technologies to mitigate the effects of increased import duties and logistical delays. Companies are now focusing on automation, compliance optimization, and cost-effective solutions to navigate the growing complexities of international trade. Small and medium-sized enterprises face considerable challenges.

Imports at the Port of Los Angeles fell by 9% in May due to tariffs on Chinese goods, marking the lowest volume in over two years. A 90-day tariff pause offers potential relief, but import volumes remain modest.

HK: Share of Tariff Lines with International Peaks: Manufactured Products data was reported at 0.000 % in 2016. This stayed constant from the previous number of 0.000 % for 2015. HK: Share of Tariff Lines with International Peaks: Manufactured Products data is updated yearly, averaging 0.000 % from Dec 1988 (Median) to 2016, with 22 observations. HK: Share of Tariff Lines with International Peaks: Manufactured Products data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Hong Kong SAR – Table HK.World Bank.WDI: Trade Tariffs. Share of tariff lines with international peaks is the share of lines in the tariff schedule with tariff rates that exceed 15 percent. It provides an indication of how selectively tariffs are applied. Manufactured products are commodities classified in SITC revision 3 sections 5-8 excluding division 68.; ; World Bank staff estimates using the World Integrated Trade Solution system, based on data from United Nations Conference on Trade and Development's Trade Analysis and Information System (TRAINS) database.; ;

Introduction

Tariffs are exerting a growing negative influence on the travel, tourism, and global supply chain sectors by driving up costs for both businesses and consumers. These added expenses often result in higher airfares, increased accommodation rates, and elevated overall travel budgets, making international tourism less attractive. For instance, airline operators facing higher import duties on fuel and aircraft components are forced to pass these costs onto passengers, which affects travel demand across borders.

The global tourism industry has demonstrated strong recovery momentum following the pandemic-era lockdowns, with demand for leisure and business travel rebounding across key markets. This upward trajectory is supported by increasing consumer confidence, greater digitalization in travel booking, and a renewed focus on experience-driven tourism.

Based on current growth patterns, global tourism spending is projected to surpass $2.9 trillion by 2035, marking a significant expansion from pre-pandemic levels. This long-term outlook is being bolstered by rising middle-class income in emerging markets, improved air connectivity, and supportive government policies aimed at rebuilding tourism ecosystems.

In the technology sector, companies like Apple have faced substantial financial impacts due to tariffs. Apple reported a $1.4 billion tariff hit, prompting the company to diversify its supply chain by shifting production from China to countries like India and Vietnam. This move aims to mitigate the effects of a 145% tariff on Chinese imports, which has significantly increased the cost of goods and affected pricing strategies.

US Tariff Impact on the Market

The imposition of US tariffs on imported electronic devices, including language translators, has the potential to significantly affect the global intelligent language translator market.

Tariffs, particularly on products imported from countries like China, could lead to an increase in production costs for manufacturers, which may, in turn, result in higher retail prices for consumers. This could reduce demand, especially in price-sensitive segments. The impact is expected to be more prominent in the handheld segment, where many of these products are manufactured overseas.

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• Economic Impact: The economic impact of tariffs includes increased production costs, which could be passed on to consumers, thereby reducing disposable income and dampening overall demand for language translators. This could hinder market growth in the short term.
• Geographical Impact: The US, as a key market for intelligent language translators, could see a decline in import volumes, particularly from countries like China. This would lead to a geographical shift in the global market, with other regions like Europe and Asia benefiting from reduced US imports.
• Business Impact: Businesses operating in the US may need to explore domestic manufacturing options or find alternative suppliers to avoid the higher costs of imported goods. This shift could impact business models and profitability in the short term.

US Tariff Impact on Market Sectors

• The tariff impact could rise by up to 25% on impacted products from China.

In response to President Trump’s escalation of trade relations, China countered by issuing tariffs on over 6,000 products worth over $110 billion in U.S. exports. We explore whether China’s tariffs reflected a strategy to apply counter-pressure by hurting political support for Republicans, assess the strategy’s impact on the 2018 mid-term elections, and examine the mechanism underlying the resulting electoral shift. We find strong evidence that Chinese tariffs systematically targeted U.S. goods whose production is concentrated in Republican-supporting counties, particularly when located in closely contested Congressional districts. This apparent strategy was successful: targeted areas were more likely to turn against Republican candidates. Using data on campaign communications, local search patterns online and an original national survey, we find evidence that voters residing in areas vulnerable to the tariffs were more likely to learn about the trade war, recognize its adverse impact, and assign the Republicans responsibility for the escalating situation.

Graph and download economic data for U.S. Imports of Goods by Customs Basis from China (IMPCH) from Jan 1985 to May 2025 about imports, China, goods, and USA.

President Trump's ten percent tariffs on imports from China, which went into effect on February 4, 2025, are projected to have negative effects on both the GDP of China and the U.S. However, the effect on China's GDP is expected to be stronger and result in a contraction by 0.16 percent in 2026 and 2027 compared to the baseline scenario. In contrast, the U.S. GDP is only projected to be 0.07 percent lower than in the baseline scenario in 2027. If China retaliates, the negative effects on both countries might be stronger.

Customs and other import duties (% of tax revenue) in China was reported at 2.679 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. China - Customs and other import duties (% of tax revenue) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

Hong Kong HK: Tariff Rate: Most Favored Nation: Simple Mean: Primary Products data was reported at 0.000 % in 2016. This stayed constant from the previous number of 0.000 % for 2015. Hong Kong HK: Tariff Rate: Most Favored Nation: Simple Mean: Primary Products data is updated yearly, averaging 0.000 % from Dec 1988 (Median) to 2016, with 22 observations. Hong Kong HK: Tariff Rate: Most Favored Nation: Simple Mean: Primary Products data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Hong Kong – Table HK.World Bank: Trade Tariffs. Simple mean most favored nation tariff rate is the unweighted average of most favored nation rates for all products subject to tariffs calculated for all traded goods. Data are classified using the Harmonized System of trade at the six- or eight-digit level. Tariff line data were matched to Standard International Trade Classification (SITC) revision 3 codes to define commodity groups. Primary products are commodities classified in SITC revision 3 sections 0-4 plus division 68 (nonferrous metals).; ; World Bank staff estimates using the World Integrated Trade Solution system, based on data from United Nations Conference on Trade and Development's Trade Analysis and Information System (TRAINS) database and the World Trade Organization’s (WTO) Integrated Data Base (IDB) and Consolidated Tariff Schedules (CTS) database.; ;

U.S. retailers are struggling with increased tariffs on imports from Vietnam and China, leading to delayed orders and hiring freezes. This article examines the financial strain on companies and the potential impact on consumers.

We measure the tariff shocks by matching the U.S. products of Section 301 Tariffs with China provincial customs export data in 2017, the year before the trade war.First, based on the tariffed product lists released by the Office of the United States Trade Representative (USTR), which specify products at the Harmonized Tariff Schedule (HTS) eight-digit code level, we calculate the proportion of tariffed product categories under each six-digit HTS code. For instance, under the U.S. HTS-6 code 6309.29 (tents of other textile material), the corresponding sub-code includes 6306.29.11 (tents of cotton) and 6306.29.21 (tents made of other materials), with only 6306.29.11 being subject to additional tariffs. Thus, the tariffed rate for HTS code 6309.29 is 50%.Second, since the HTS-6 codes are consistent under the Harmonized System (HS) across countries, we estimate the scale of Chinese export affected by the trade war by multiplying the export data of HS-6 products by the corresponding HTS-6 tariffed rate.Third, we further adjust for provincial differences by dividing each province’s tariff-affected export scale by its total export scale.Fourth, the intensity of tariffs varied across the four rounds of the trade war. In the first three rounds, listed products were subjected to a 25% tariff, whereas the fourth round, while covering nearly all remaining U.S.-bound exports, had a lower tariff rate (7.5%), following the signing of the “Phase One” trade agreement between China and the U.S. in January 2020. To account for these differences, we assign a weight of 0.25 to the first three rounds and a weight of 0.075 to the fourth round. The weighted sum serves as a proxy variable for the provincial exposure of the U.S.-China trade war.

Trump’s renewed tariffs on China are shaking up global trade. Here’s what they could mean for Australian industries facing shifting demand, prices and supply chains.