Tariff outlook 2023
After three years of global tariff hikes, the weakness of international trade could lead to a reduction in tariffs this year, especially in intermediate goods. According to the International Monetary Fund, the sectors with the greatest potential reductions in tariff costs on imports will be vehicles, machinery and equipment. Tariff reductions at product level would range from 0 to 18.5 percentage points and will be higher on average for China.
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