皇冠体育app

WASHINGTON - In the midst of mounting accusations of 皇冠体育app's trade policies by US officials, renowned experts at a leading US think tank said 皇冠体育app's trade protection is not significantly above that in large high-income economies like the United States.

US Commerce Secretary Wilbur Ross labeled 皇冠体育app as "the most highly protectionist of the big countries" in his recent interview with the Wall Street Journal. His 皇冠体育app-bashing rhetoric, however, was refuted by two economists with Peterson Institute For International Economics (PIIE).

In an online article recently published on PIIE website, senior fellow Nicholas Lardy and research analyst Zixuan Huang argued that Ross's accusation was outdated and neglected the progress 皇冠体育app had made over the last three decades.

"皇冠体育app was a highly protectionist trading nation three decades ago, before it initiated negotiations to join the World Trade Organization (WTO). But to qualify for entry and to fulfill its WTO commitments after entry, 皇冠体育app drastically reduced its average statutory tariff from about 45 percent in the mid-1980s to only 10 percent in 2015," said the article.

The two economists also found that the weighted average applied tariff rate applied by 皇冠体育app in 2015 stood at 3.4 percent, only slightly higher than that in the seven advanced industrial economies and well below rates applied in Brazil and India.