Fitch: The effective tariff rate in the United States has dropped to 12.7%

The rating agency Fitch has updated its monitoring report on the effective tariff rate in the United States, currently estimating the overall effective tariff rate in the U.S. to be 12.7%, down from 13.6% as reported in the update on November 5, 2025. The reduction reflects the decrease in the combined tariff rate on imported goods from India from 50% to 18%, as well as lower tariffs from Switzerland and the revised percentage estimates of the ETR (Effective Tariff Rate) for Canada and Mexico