Trump tariffs: 17% effective rate, $50 billion customs revenue

Fitch Ratings reported the US effective tariff rate at 17% after recent reciprocal tariffs, despite India's higher simple average tariff of 16.2% in 2024. While the US maintains a low average tariff, additional duties, especially for India and Brazil, significantly increase levies on specific goods like peanuts, footwear, and certain apparel items.